NORTHLAKE, Texas, June 14, 2021 (GLOBE NEWSWIRE) -- Farmer Bros. Co. (NASDAQ: FARM) (the “Company”) released its 2020 Sustainability Report and 2020 Direct Trade Impact Report today. The report articulates the Company’s 2020 achievements and offers data supporting its continued commitment to leading the coffee industry in sustainable sourcing, production and trading.
Since Farmer Brothers formally began its sustainability journey several years ago, the company has made great strides in its key initiatives. Notably, the Company achieved significant milestones in 2020:
- Roasted nearly 32 million pounds of fully traceable green coffee;
- Diverted 75% of waste away from landfills and achieved zero-waste status on 100% of the company’s roasting facilities each year since 2018;
- Restored 9,000 pieces of commercial brewing equipment per year on average, with 75% of components recovered;
- Reduced overall carbon dioxide emissions by 11% compared to 2019.
“Our commitment to quality coffee and service goes hand in hand with our commitment to sustainability, which is a three-part equation encompassing Social, Environmental, and Economic Development,” said Deverl Maserang, President & CEO. “We call that SEED – which is not a program, but a framework for how we approach our sustainability practices. We believe that each of these parts is inextricably intertwined with the others. If we falter on one, we cannot be champions of the others. This year has been a challenge on so many levels, but Farmer Brothers’ grounding in that concept of sustainability has kept our focus clear. As we pivoted to rethink our business model and adapt to the pandemic-impacted environment, we evaluated whatever we did against all three parts of the sustainability equation.”
As demonstrated by years of investment in sustainable practices, Farmer Brothers has stayed true to its guiding principles around service, quality and corporate responsibility, supporting the long-term relationships the company has built over the years with coffee growers, partners and customers. The company continues to build sustainable practices into the fabric of the organization, from coffee farmers and producers at origin while enforcing transparency throughout the supply chain.
Farmer Brothers’ full Sustainability and Direct Trade Impact Reports, including issue briefs and GRI data, can be viewed here: https://www.farmerbros.com/blog/case-studies/2020-sustainability-report/.
About Farmer Brothers
Founded in 1912, Farmer Bros. Co. is a national coffee roaster, wholesaler, and distributor of coffee, tea, and culinary products. The Company’s product lines include organic, Direct Trade, and sustainably produced coffee. With a robust line of coffee, hot and iced teas, cappuccino mixes, spices, and baking/biscuit mixes, the Company delivers extensive beverage planning services and culinary products to its U.S. based customers. The Company serves a wide variety of customers, from small independent restaurants and foodservice operators to large institutional buyers like restaurant, department and convenience store chains, hotels, casinos, healthcare facilities, and gourmet coffee houses, as well as grocery chains with private brand coffee and consumer branded coffee and tea products, and foodservice distributors.
Forward-Looking Statements
Certain statements contained in this press release are not based on historical fact and are forward-looking statements within the meaning of federal securities laws and regulations. These statements are based on management's current expectations, assumptions, estimates and observations of future events and include any statements that do not directly relate to any historical or current fact. These forward-looking statements can be identified by the use of words like “anticipates,” “estimates,” “projects,” “expects,” “plans,” “believes,” “intends,” “will,” “could,” “assumes” and other words of similar meaning. Owing to the uncertainties inherent in forward-looking statements, actual results could differ materially from those set forth in forward-looking statements. The Company intends these forward-looking statements to speak only at the time of this press release and does not undertake to update or revise these statements as more information becomes available except as required under federal securities laws and the rules and regulations of the Securities and Exchange Commission (“SEC”). Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, the success of the Company's turnaround strategy, the adequacy and availability of capital resources to fund the Company’s existing and planned business operations and the Company’s capital expenditure requirements, our ability to provide sustainability in ways that do not materially impair profitability, changes in the strength of the economy, business conditions in the coffee industry and food industry in general, as well as other risks described in this report and other factors described from time to time in our filings with the SEC.
Marketing Contact
Nathalie Oetzel
noetzel@farmerbros.com
Investor Relations Contact
Ellipsis
Jennifer Milan & Kyle King
Investor.relations@farmerbros.com
(646) 776-0886