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Westrock Coffee to launch initial public offering at estimated $10 per share

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Little Rock, Arkansas — Led by former Alltel CEO Scott Ford, Westrock Coffee Holdings LLC announced Monday it would go public via a business combination with Riverview Acquisition Corp. (NASDAQ: RVAC), which values the coffee and tea company at approximately $1.086 billion.

The combined company will be named Westrock Coffee Company upon the closing of the transaction and is expected to be listed on the Nasdaq under the ticker symbol “WEST.”

Formed in April 2021, Riverview is a Memphis-based special-purpose acquisition company (SPAC).

“We believe there are a number of enterprises that could be attractive merger partners for our company, and we may pursue an initial business combination in any business or industry. Given the experience and network of our management team, we may decide to focus on consumer-focused enterprises, including e-commerce, on the renewables and energy services sector, and/or on the insurance and financial services sector,” noted the April 2021 Riverview filing with the U.S. Securities and Exchange Commission.

According to Westrock, the proposed business combination will allow Westrock Coffee to accelerate the build-out of the largest roasting to ready-to-drink facility in the U.S., as well as the company’s further expansion into Europe, Asia Pacific, and the Middle East.

 

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