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Kirkland, Paul Hastings Helped Create Black Rifle Coffee’s SPAC

Nov. 4, 2021, 10:55 AM

Kirkland & Ellis advised military veteran-founded Black Rifle Coffee Co. on its $1.7 billion go-public merger with a special purpose acquisition company.

Paul Hastings advised the SPAC, SilverBox Engaged Merger Corp I, which is sponsored by alternative investment managers SilverBox Capital LLC and Engaged Capital LLC, according to a statement.

Black Rifle said its mission is to help better the lives of veterans, active-duty military, and first responders. Its revenues doubled year-over-year to reach $164 million in 2020 through sales of “premium” coffee via direct-to-consumer subscriptions, branded shops, ready-to-drink products at major national outlets, and wholesale distribution, the company said.

Upon closing, expected in 2022’s first quarter, the combined company, named BRC Inc., will have up to $225 million in cash to fund expansion, the statement said.

“This combination will provide the capital BRCC needs to grow, serve great coffee, and move us closer to our goal of hiring 10,000 veterans as we open more stores nationwide,” said Black Rifle founder and CEO Evan Hafer.

To contact the correspondent on this story: Rick Mitchell in Paris at rmitchell@correspondent.bloomberglaw.com
To contact the editor on this story: Chris Opfer in New York at copfer@bloomberglaw.com; John Hughes in Washington at jhughes@bloombergindustry.com