After 102 years in California, Farmer Brothers Coffee plans to move into a new $40 million corporate headquarters in Denton County, Texas, on the North end of the Dallas/Ft. Worth Metroplex.
The company is receiving separate incentives for the move from the county and the Town of Northlake, provided it meets certain conditions related to job growth and improvements on the property, which is separated from the Texas Motor Speedway by I-35.
“We will relocate our company headquarters to a state-of-the-art facility in a location central to our nationwide customer base, and provide incremental manufacturing capacity to support future growth,” Farmer Brothers President and CEO Mike Keown said in an announcement yesterday.
The move is expected to save the publicly traded company some $12 million to $15 million annually in operating expenses. Farmer Brothers says it generated net sales of more than $500 million in fiscal year 2014. The company employs some 1,800 people nationwide, and early estimates are that the move to North Texas will lead to the creation of some 300 jobs.
Said Keown, “We are working to finalize our plans for relocation and securing eligibility for incentives represents an important step in our process.”
Farmer Brothers is one of the nation’s largest coffee companies, with numerous coffee brands for applications including restaurants, supermarkets, offices, gas stations, fast food and hotels. It also manufactures and distributes hundreds of other foodservice items.
Farmer Brothers’ reach into specialty coffee came through the 2007 acquisition of Portland-based Coffee Bean International, which roasts coffees for various applications, including restaurant wholesale, cafe wholesale and private label. The Farmer Brothers/CBI umbrella also covers Public Domain, an upscale retail bar concept unveiled in Portland in 2010.