San Antonio, Texas, and Salt Lake City-based Black Rifle Coffee Company has officially gone public, with founder Evan Hafer ringing the bell at the New York Stock Exchange this morning.
Prior to the public debut, the rapidly growing coffee company was acquired through a SPAC deal, the formation of a merged company with no operations that is designed to raise capital leading into an IPO. The merger with SilverBox Engaged Merger Corp was expected to deliver $150 million in proceeds to BRCC to immediately accelerate growth.
In a press release, Black Rifle said the NYSE debut will help it towards a goal of hiring 10,000 United States military veterans.
BRCC has built a customer base while promoting a fiercely pro-gun, pro-military, pro-America and veteran-supportive brand identity, catering to consumers with coffee blends bearing names such as AK Espresso, Silencer Smooth and Freedom Roast.
The company, which doubles as a lifestyle brand through political messaging, a podcast and print magazine, says it is “built upon the mission to serve coffee and culture to people who love America.”
Touting itself as a political foil to Starbucks, the company has also strategically echoed the messaging of the MAGA crowd with products bearing sayings such as “Make Coffee Great Again,” or “Coffee or Die” next to a cut snake.
Black Rifle focuses on direct-to-consumer sales and distribution to specialty grocers and specialty retailers such as gun shops. The company recently has been investing in company-operated and franchise retail locations.
In an appearance on Fox News a day before the coffee company’s public debut, BRCC founder Hafer said the company planned to double its advertising budget for Joe Rogan’s Spotify podcast, which is embroiled in controversy due to the host’s past use of the N-word and well-publicized peddling of COVID-19 conspiracy theories and misinformation.