FARMER BROTHERS Business Summary

Farmer Brothers Co (FARM) is a vertically integrated roaster, wholesaler, and distributor of coffee, tea, and culinary products, generating revenue through high-volume product sales and technical equipment servicing for the U.S. foodservice market. The business operates primarily through an expansive national Direct Store Delivery (DSD) network, serving a diverse client base that includes independent restaurants, healthcare facilities, casinos, and large-scale institutional chains. Revenue streams are diversified across roasted coffee, liquid coffee concentrates, spices, and private-label programs for grocery retailers. Positioned as a specialized mid-tier player, Farmer Brothers competes against broadline distributors like Sysco and US Foods, as well as beverage giants such as Keurig Dr Pepper and Massimo Zanetti Beverage Group, distinguishing itself through high-touch service and a distribution footprint that reaches approximately 45,000 delivery points. Established in 1912 by Roy E. Farmer, the company is currently led by President and CEO John Moore, a 30-year industry veteran and former CEO of Vassilaros Coffee with deep expertise across the global coffee value chain. The senior leadership team includes CFO Vance Fisher, who previously held finance leadership roles at Nothing Bundt Cakes and Daisy Brand, and VP/General Counsel Jared Vitemb, who together oversee a strategic pivot toward DSD optimization following the 2023 divestiture of the company's direct-ship business. Farmer Brothers is governed by a board chaired by David A. Pace and maintains a concentrated institutional investor base featuring 22nw, Lp, JCP Investment Management, and The Vanguard Group, reflecting a current corporate focus on operational right-sizing and long-term shareholder value recovery.