Farmer Brothers facts for kids
|
Trade name
|
Farmer Brothers |
|---|---|
| Public | |
| Traded as | NASDAQ: FARM Russell 2000 Component |
| Industry | Foodservice |
| Founded | California (1912) |
| Founder | Roy E. Farmer |
| Headquarters |
,
U.S.
|
|
Number of locations
|
80 (2024 investor presentation) |
|
Area served
|
U.S. |
|
Key people
|
David Pace (chairman of the board) John Moore (president, CEO, director) Vance Fisher (CFO) |
| Products | |
| Revenue | US$500.9 million (FY 2023) |
| US$ 12.1 million (FY 2014) | |
|
Number of employees
|
1,000 |
Farmer Bros. Co. is an American company that provides coffee and other food items to restaurants and other businesses. It is based in Fort Worth, Texas. The company makes and sells coffee, tea, and about 300 other products used in kitchens and dining places. John Moore is the company's president and chief executive officer.
Contents
The Story of Farmer Brothers
Starting Small (1912-1930s)
In 1912, a man named Roy E. Farmer started a small business. He roasted coffee beans and sold them directly to people's homes in Los Angeles, California. His business did very well.
In 1923, Farmer officially made his business a company. He also started selling coffee equipment. He bought a company called Western Urn Manufacturing to help with this. As the company grew, it opened new locations across California. It quickly became well-known in places like San Francisco.
Growing and Expanding (1930s-1950s)
By the 1930s, Farmer Brothers began selling more than just coffee beans and equipment. They added a wider range of food service items. By 1939, the company was roasting and selling over 3 million pounds of coffee each year!
During World War II in 1942, the Farmer Brothers factory helped with the war effort. Women machinists made special parts and equipment for the military. In 1949, the company opened a large, modern headquarters and production center in Torrance, California. This helped them sell over 14 million pounds of coffee a year.
New Leadership and Public Company (1950s-1990s)
Roy E. Farmer passed away in 1951. His son, Roy F. Farmer, took over the company. It was a challenging time, and in 1952, the company became a public company. This meant its shares could be bought and sold on the stock market, under the symbol FARM on NASDAQ.
Roy F. Farmer worked hard to make production more efficient and increase profits. In 1963, the company added herbs, spices, and seasonings to its products. In 1972, they started an Office Coffee Division. By 1988, Farmer Brothers had expanded across the entire United States.
Challenges and Changes (1990s-2010s)
Under Roy F. Farmer's leadership, the company reached its highest sales of $240 million in 1998. At this time, the company had nearly 100 branches in 29 states in the western U.S.
However, some people who owned parts of the company wanted more information. They wanted the company to be more open about its plans. They also wanted more independent people on the company's board. Despite these requests, the company remained quite private.
Roy F. Farmer passed away in 2004 after leading the company for over 50 years. A new leader was not immediately chosen.
After Farmer's death, several leaders took charge. Roger M. Laverty III became CEO and president. During his time, Farmer Brothers bought Coffee Bean International in 2007. They also bought the coffee delivery business of Sara Lee in 2009. He left in 2011.
In 2010, Farmer Brothers started its first "Direct Trade" partnership. This means they bought coffee directly from farmers. In 2012, the company celebrated its 100th anniversary. Michael Keown became the new CEO and president in March 2012.
Moving Headquarters and Recent Growth (2015-Present)
On April 28, 2015, Farmer Brothers announced a big move. They moved their main office from Torrance, California, to Northlake, Texas. They also expanded their Project D.I.R.E.C.T. program in Nicaragua. This program helps coffee farmers.
In 2016, Farmer Brothers bought China Mist Tea. They also acquired Boyd's Coffee and West Coast Coffee in 2017. In 2018, they expanded their Project D.I.R.E.C.T. program to Brazil.
Deverl Maserang became CEO and president in September 2019. Scott Drake became CFO in March 2020. In 2021, the company launched a new equipment service. They also partnered with High Brew Coffee. They opened a large distribution center in Rialto, California. In June 2023, they sold part of their business to Treehouse Foods. John Moore was named president and CEO in May 2024.
Public Domain Coffee
Farmer Brothers bought Coffee Bean International to expand into "specialty coffee." As part of this, they created Public Domain Coffee in April 2010. Public Domain is a special coffeehouse owned by Farmer Brothers. It also works as a lab and training place for their baristas (people who make coffee). This coffeehouse is well-known and is located in downtown Portland, Oregon. It's a place where Farmer Brothers shows off its very best coffees.