Veteran-owned coffee company Black Rifle Coffee announced Tuesday that it is going public, making a deal with special acquisition company SilverBox Engaged Merger Corp. I.
The Daily Wire reports that the companies said that the deal is valued at $1.7 billion. Black Rifle Coffee founder Evan Hafer, a former Green Beret, announced the deal on Fox Business on Tuesday in an interview with host Maria Bartiromo, saying that the merger is expected to be completed in the first quarter of 2022 and that the goal is to further the company’s mission of focusing on veterans.
Hafer told Bartiromo that Black Rifle Coffee wanted to “curate a relationship with somebody that had the same mission and intent and the commitment to the veteran community.”
“I think being able to partner with somebody right now with the timing of this, as far as being able to capture market inertia and seize the opportunity ... [will] grow the company and maintain our commitment to hiring 10,000 veterans because we set up with that goal four years ago."
Hafer sited the commitment he had made in 2017 on Bartiromo’s show and reiterated his dedication to that goal.
Black Rifle Coffee currently employees 600 people, approximately half of whom are military veterans.
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