FORT WORTH, TX, U.S. – Farmer Bros. Co. (NASDAQ: FARM) (“Farmer Brothers” or the “Company”) a national coffee roaster, wholesaler and distributor of coffee, tea and culinary products announced today that its acquisition of China Mist Brands, Inc. (“China Mist”) has been successfully completed.
“We are excited to welcome China Mist into the Farmer Brothers family. China Mist’s focus on quality products, customer service and sustainable business practices make the business a great strategic and cultural fit for Farmer Brothers,” commented Mike Keown, CEO of Farmer Brothers.
“We believe the addition of this premium tea brand and its strong consumer appeal will accelerate the Company’s growth in the fresh brewed tea segment and complement our sustainable, direct trade specialty coffee portfolio.”
Farmer Brothers plans to operate China Mist as a subsidiary. China Mist will continue to operate from its Scottsdale, Arizona offices and its management team, including General Manager Kermit Peterson, will continue in their existing roles. Company founders Dan Schweiker and John Martinson are expected to continue to support the business as valued consultants.
“China Mist was founded in 1982 with a vision to produce high quality iced teas and offer a comprehensive iced tea program to the foodservice industry and the business has grown over the past 34 years to become a nationally recognized provider of premium teas,” stated Peterson.
“In Farmer Brothers we have found the ideal partner to take the next step in our journey, further expand our category leadership in tea and tea programs and bring the China Mist brand to more consumers.”
China Mist was represented by the investment banking firm Billow Butler & Company L.L.C., Chicago IL.
