Westrock Coffee announced on Friday that it will pay $405 million to purchase a North Carolina company that is the nation’s largest coffee and tea manufacturer and supplier to restaurants and convenience stores.
The combined entity will have 1,700 employees globally and there are plans to establish corporate headquarters in Little Rock, according to Westrock CEO Scott Ford.
“This is tremendous news for our company and a validation of the work we’ve been doing for our customers and the growers who support our business,” Ford said. “It’s going to be great news for Little Rock down the road as we work with our new team members to expand our growth organically and through acquisitions.”
Westrock is purchasing S&D Coffee & Tea of Concord, N.C., which was founded in 1927 to provide fresh roasted coffee and tea to local and regional grocery stores. S&D is a subsidiary of Cott Corp. of Canada, which sold the business to Westrock.
The transaction is expected to close by March 1, Ford said. S&D has annual revenues of $600 million, according to a recent federal filing.