Riverview Acquisition Corp, a publicly traded acquisition company, announced that Riverview shareholders approved the proposed merger with Westrock Coffee Holdings, LLC (“Westrock Coffee”), a provider of integrated coffee, tea, flavour, extract and ingredient solutions, at a special meeting of shareholders held Friday.
A total of 24,469,389 shares of common stock, or 78.3% of the issued and outstanding shares of Riverview’s common stock as of 3 August 2022, the record date for the special meeting, were present either personally, electronically, or by proxy. Owners of 23,428,049 shares of Riverview’s common stock, or 75.0% of the company’s outstanding common stock, cast their votes in favor of the merger.
On 29 August, Westrock Coffee Holdings is expected to formally close on a merger that will take the coffee and tea producer public, with shares anticipated to start trading that morning at $10 at the Nasdaq market’s opening bell.
The business merger will make it possible for Westrock Coffee to expand even further into Europe, Asia Pacific and the Middle East in addition to accelerating the development of its ready-to-drink manufacturing plant in the United States.
During the business combination process, Westrock received a credit line of $350 million and roughly $300 million from private investors.
About Westrock Coffee
Westrock Coffee Holdings, LLC is a leading integrated coffee, tea, flavors, extracts, and ingredients solutions provider in the U.S., providing coffee sourcing, supply chain management, product development, roasting, packaging, and distribution services to the retail, foodservice and restaurant, convenience store and travel center, CPG, non-commercial and hospitality industries around the world. With offices in 10 countries, the company sources coffee and tea from 35 origin countries.
About Riverview Acquisition Corp.
Riverview Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. Management is led by Chief Executive Officer R. Brad Martin, President Charles K. Slatery, and Chief Financial Officer Will Thompson.