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Farmer Brothers Coffee has begun evaluating strategic alternatives aimed at maximising shareholder value.
The US-based coffee and tea distributor said its board has formed a strategy committee made up of independent directors to evaluate a broad range of potential strategic alternatives and make recommendations to the full board.
The move comes after several years of underperformance and follows the 2023 sale of its direct ship business, which aimed to streamline operations. Despite some operational improvements, the company continues to face financial challenges.
Farmer Brothers's chairman of the board, David Pace, said: “Since the 2023 sale of our direct ship business, we have been focused on improving our financial and operational structure and are pleased with the progress we have made. We believe now is the right time to explore additional options that could allow us to more effectively maximise shareholder value."
No timeline has been set for the review, and the company said there is no guarantee it will result in a transaction.
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