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Fairness Opinion Detail

Farmer Brothers Company to Royal Cup, Inc.

Distribution/Mar 2026/North Point

Deal Information

Target
Farmer Brothers Company
Acquiror
Royal Cup, Inc.
Sector
Distribution
Target Type
Public
Acquiror Type
Strategic
Advisors
North Point

Transaction Metrics

Enterprise Value
$61M
EV / LTM Sales
0.2x
EV / LTM EBITDA
6.0x
EV / Fwd EBITDA

Advisor Transaction Comparables

Comparable transactions cited by the advisor, excluding the subject transaction.

Advisor: North Point

17 comps
Aug 2025JDE Peet's N.V.
Coffee Distribution; date printed is effective (closing) date
Keurig Dr Pepper Inc.--16.6x-
Apr 2022Riverview Acquisition Corp.
Coffee Distribution; date printed is effective (closing) date
Westrock Coffee Company--14.5x-
Jan 2020Primo Water Corporation
Coffee Distribution; date printed is effective (closing) date
Cott Corporation--15.6x-
Aug 2016S&D Coffee
Coffee Distribution; date printed is effective (closing) date
Cott Corporation--7.0x-
Sep 2010LJVH Holdings (Van Houtte)
Coffee Distribution; date printed is effective (closing) date
Green Mountain Coffee Roasters--11.3x-
Nov 2009Timothy's Coffees of the World
Coffee Distribution; date printed is effective (closing) date
Green Mountain Coffee Roasters--14.6x-
May 2007Van Houtte
Coffee Distribution; date printed is effective (closing) date
Littlejohn Fund III; Fonds de solidarite--8.1x-
Jun 2024Britvic plc
Broader Coffee; date printed is effective (closing) date
Carlsberg UK Holdings--13.1x-
Aug 2018Costa Limited
Broader Coffee; date printed is effective (closing) date
The Coca-Cola Company--16.4x-
Dec 2012Caribou Coffee Company
Broader Coffee; date printed is effective (closing) date
BDT Capital Partners; JAB Beech--11.3x-
Nov 2012Teavana Holdings
Broader Coffee; date printed is effective (closing) date
Starbucks Corporation--17.9x-
Jul 2012Peet's Coffee & Tea
Broader Coffee; date printed is effective (closing) date
JAB Holdings; BDT Capital Partners--22.1x-
Aug 2024Cheney Bros.
Broader DSD; date printed is effective (closing) date
Performance Food Group--9.9x-
Jan 2021C.J. Vitner Company (Certain Assets)
Broader DSD; date printed is effective (closing) date
Utz Quality Foods--5.9x-
Jul 2019Reinhart FoodService
Broader DSD; date printed is effective (closing) date
Performance Food Group--8.1x-
Jul 2018Services Group of America (Certain Assets)
Broader DSD; date printed is effective (closing) date
US Foods--8.6x-
Jun 2018Pinnacle Foods
Broader DSD; date printed is effective (closing) date
Conagra Brands--16.5x-
Mean-12.8x-
Median-13.1x-