Westrock Coffee Co. announced the expansion of capabilities at its Extract and Ready-to-Drink (RTD) facility in Conway, Ark.
It also entered into a non-binding letter of intent with Select Milk Producers to establish a joint venture to build and operate an extended shelf life and aseptic, multi-serve bottle facility to be co-located at Select Milk’s facility in Littlefield, Texas, provided an update on its preliminary full year 2023 results, and provided its 2024 outlook.
“As we near completion of the Extract and RTD facility in Conway, Arkansas, we made the decision to expand our extract and concentration capabilities so that as we add additional lines in the future, we can do so without having to impact the existing operations of the facility," said Westrock Coffee’s CEO and Co-Founder, Scott Ford. "In addition, we have expanded our multi-serve bottle capacities by adding cold-chain capability to our facility. Together, these additions better position us to respond to existing customer demand for extended shelf life and multi-serve bottles and ensure we can grow our capabilities in the future without disrupting operations.”
“We expect the joint venture with Select Milk will allow us to meet the needs of current and future customers for coffee-based RTD and concentrate multi-serve formats that include either traditional dairy or plant-based milks," he added, regarding Select Milk.
The joint venture would construct and operate multi-serve bottle lines inside a new facility Select Milk intends to build in Littlefield, Texas. Westrock expects to produce and provide the joint venture with coffee extracts and concentrates from its Conway facility and Select Milk expects to provide the milk from its Littlefield facility. Westrock and Select Milk anticipate the first product to ship from these lines in the first quarter of 2026.
To fund the Conway facility expansion and the formation of the joint venture, Westrock announced that it has issued $72 million aggregate principal amount of convertible senior unsecured notes due 2029 in a private offering.