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(i) operate a transparent supply chain, (ii) develop innovative beverage solutions tailored to our customers’ specific needs, (iii) deliver a high quality and comprehensive set of products to our customers, and (iv) leverage our scaled international presence to serve our blue-chip customer base.
−Removed: The Company operates three manufacturing facilities in Concord, North Carolina, one in North Little Rock, Arkansas, one in Richmond, California, one in Kigali, Rwanda, and one in Johor Bahru, Malaysia.
−Removed: We continue the build-out of our 524,000 square-foot extract and ready-to-drink facility (“RTD”) in Conway, Arkansas, which will be our eighth manufacturing facility, and one of the largest of its type in the United States.
−Removed: The Conway facility is expected to begin commercial production in 2024.
+Added: The Company operates manufacturing and distribution facilities in Concord, North Carolina, North Little Rock, Arkansas, Conway, Arkansas, and Johor Bahru, Malaysia.
+Added: In addition, the Company operates Trading and Representative offices in Lewes, UK, Austin, Texas, Lima & Jaen, Peru, Addis Ababa, Ethiopia, Johor Bahru, Malaysia, and Seoul, Korea, alongside a coffee milling and exporting facility in Kigali, Rwanda.
As of December 31, 2024, our operating structure consists of two reportable segments:
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Through this segment, we combine our product innovation and customer insights to provide value-added beverage solutions, including coffee, tea, flavors, extracts and ingredients.
−Removed: We provide products in a variety of packaging, including branded and private label coffee in bags, fractional packs, and single serve cups, as well as extract solutions to be used in products such as cold brew and ready-to-drink offerings.
+Added: We provide products in a variety of packaging, including branded and private label coffee in bags, fractional packs, single serve cups, multi-serve bottles and ready-to-drink bottles and cans, as well as extract solutions to be used in products such as cold brew and ready-to-drink offerings.
Currently, we serve customers in the United States, Europe and Asia, through the retail, food service and restaurant, convenience store and travel center, non-commercial account, CPG and hospitality industries.
Sustainable Sourcing & Traceability :
−Removed: Through this segment, we utilize our proprietary technology and digitally traceable supply chain to directly impact and improve the lives of our farming partners, tangible economic empowerment and an emphasis on environmental accountability and farmer literacy.
+Added: Through this segment, we utilize our proprietary technology and digitally traceable supply chain to directly impact and improve the lives of our farming partners, provide tangible economic empowerment and emphasize environmental accountability and farmer literacy.
Revenues primarily consist of sales from commodity contracts related to forward sales of green coffee.
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The ability to serve global foodservice operators through our international presence, responsible sourcing capabilities, and vertically integrated supply chain positions us as a global full-menu beverage solutions provider.
−Removed: Our comprehensive line of products allows us to create any product platform in a multitude of packaging sizes and formats.
+Added: Our comprehensive line of products allows us to create product platforms in a multitude of packaging sizes and formats.
Our skilled team has extensive experience working in blend matching and taste profiling, which allows us to match any coffee or tea blend or ready-to-drink beverage desired and maintain consistency of our products.
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As a leading partner to these restaurants and convenience stores, we believe we are capable of fulfilling innovation requirements and scaling quickly enough to meet demand.
−Removed: We are well positioned to support innovation demand from extract development through RTD fulfillment.
+Added: We are well positioned to support innovation demand from extract development through ready-to-drink (“RTD”) fulfillment.
Liquid Extracts is our highest growth product category that includes iced coffees, cold brew coffee, and RTD mixes, with cold coffee products experiencing the most significant growth.
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We are capable of tracing individual lots from the farm, through the roaster, to the finished good.
−Removed: We combine IBM Food Trust® blockchain, Oracle NetSuite®, and other technologies to create traceability and connectivity on a global scale.
+Added: Our proprietary technology links various points and systems to create traceability and connectivity on a global scale.
Beginning with the farmer transactions, data is captured at every stage of the supply chain.
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We will also continue to seek to improve gross profit, through driving sales growth in the high-margin liquid extracts segment.
−Removed: We expect to add additional capacity to support our expansion and supply chain over the long term by investing in additional manufacturing facilities.
We are focused on building a brand-behind-the-brand platform supported by an organization with the capabilities to provide comprehensive value-added beverage solutions.
Capitalizing on growing beverage categories and innovation, we offer a wide array of products that allow our customers to satisfy their customers’ changing tastes and preferences.
−Removed: Our diversified product offering includes whole bean roast and ground coffee, as well as single service cups, food service iced tea, retail and food service hot tea, extract-based products, and our RTD beverage platform.
+Added: Our diversified product offering includes whole bean and roast and ground coffee, including single serve cups, food service iced tea, retail and food service hot tea, extract-based products, and our RTD bottle and can beverage platform.
These products reside in our Beverage Solutions segment.
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Supply Chain Traceability and Community Impact
−Removed: We differentiate ourselves by situating our businesses at each point of aggregation in the supply chain, including coffee exporting through our wholly owned subsidiary Rwanda Trading Company SA (“RTC”), coffee importing and trading through Falcon Coffees Limited (“Falcon”) and coffee roasting.
+Added: We differentiate ourselves by situating our businesses at each point of aggregation in the supply chain, including coffee exporting, coffee importing and trading through our wholly owned subsidiaries Falcon Coffees Limited (“Falcon”) and Rwanda Trading Company (“RTC”).
These strategic holdings provide exceptional insight into each segment of the supply chain that allows us to better understand and manage risk.
−Removed: We are focused on delivering a fully traceable and transparent supply chain for our customers.
+Added: We are focused on delivering a traceable and transparent supply chain for our customers.
We have multiple programs and strategies designed to meet customers’ varying needs, including the following:
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Our transparent sourcing program, Farmer Direct Verified® (“FDV”), provides transactional data throughout the supply chain.
−Removed: This, combined with multi-year trade relationships, enables deeper collaboration, enforces ethical practices in the supply chain, and lay a foundation to solve the sustainability issues of tomorrow.
+Added: This, combined with multi-year trade relationships, enables deeper collaboration, encourages ethical practices in the supply chain, and lays a foundation to solve the sustainability issues of tomorrow.
Communicating supply chain realities allows our customers to make informed decisions for their brands and leads to reinvestment in sustainable farms.
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coffee and tea industry, our products compete with Keurig Dr.
−Removed: Pepper Inc., Mother Parkers, Trilliant Food and Nutrition, TreeHouse Foods, Finlays, and Harris Tea Company.
−Removed: ● In the flavors, extracts, and ingredients industry, our products compete with Kerry Foods, Finlays, Javo Beverage Company, Givaudan, Symrise, International Flavors & Fragrances, Inc., and Treatt.
−Removed: ● In the international coffee and tea industry, our products compete with JDE Peet’s, Massimo Zanetti, and UCC Ueshima Coffee Company.
+Added: Pepper Inc., Mother Parkers Tea & Coffee Inc, Trilliant Food and Nutrition, LLC, TreeHouse Foods, Inc., Finlays, Massimo Zanetti Beverage Group, Royal Cup Coffee and Sunny Sky Products, among others.
+Added: ● In the flavors, extracts, and ingredients industry, our products compete with Kerry Foodservice Brands, Finlays, Javo Beverage, Givaudan, Symrise, International Flavors & Fragrances, Inc., Sunny Sky Products and Treatt, among others.
+Added: ● In the multi-serve and RTD industry, our products compete against historically dominant legacy manufacturers, such as Dairy Farmers of America and O-AT-KA Milk Products LLC, and against newer entrants into this industry, which include Berner Foods, Trilliant, BevHub LLC, Niagara Bottling, HP Hood, Fairlife LLC, Steuben Foods and Mountaintop Beverage, LLC, among many others.
+Added: ● In the international coffee and tea industry, our products compete with Massimo Zanetti Beverage Group and UCC Ueshima Coffee Co., LTD, among others.
We seek to differentiate ourselves from other providers by (i) sourcing coffee via traceable and transparent supply chains, (ii) providing our customers best-in-class product development and consumer insights across broad product offerings, and (iii) maintaining a large manufacturing footprint in varied geographic locations both in the U.S.
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Of our employees located in the United States, 642 were hourly production employees.
−Removed: workforce of 315 employees was employed in Rwanda, Germany, Malaysia, South Korea, Peru, England and Ethiopia.
+Added: workforce of 297 employees was employed in Rwanda, Italy, UK, Germany, Malaysia, South Korea, Peru, France, Brazil, Dominican Republic and Ethiopia.
Total Compensation and Rewards.
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Our quality management systems are periodically reviewed using an internal audit system to assure that our employees understand our commitment to food safety and high quality.
−Removed: We are also subject to the general industry requirements applicable to manufacturers, including the safety standards of the
−Removed: Occupational Safety and Health Administration and the environmental standards of the Environmental Protection Agency.
+Added: We are also subject to the general industry requirements applicable to manufacturers, including the safety standards of the Occupational Safety and Health Administration and the environmental standards of the Environmental Protection Agency.
In addition to regulatory compliance, our corporate compliance program is designed to assure that our business is conducted in accordance with the highest ethical standards.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.