Dutch Bros Inc.
Dutch Bros Inc. Announces Major Office Relocation and Associated Costs
Summary
On February 8, 2024, Dutch Bros Inc. announced plans to relocate 40% of its support operations staff from Grants Pass, Oregon to Phoenix, Arizona, by January 1, 2025. The relocation is expected to incur costs of $24 million to $31 million, primarily in 2024 and 2025, including relocation, retention, transition costs, termination benefits, and other charges. These costs will be excluded from non-GAAP Adjusted EBITDA. Additionally, the company expects to incur $6 million to $10 million in capital expenditures for the Arizona office expansion.
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About Dutch Bros Inc.
Dutch Bros Inc. is a prominent beverage company specializing in crafted coffee and energy drinks. The primary focus of Dutch Bros Inc. is to provide a quick-service, drive-thru coffee experience, delivering high-quality drinks with exceptional customer service. With a growing footprint in the western United States, the company operates a network of drive-thru locations, offering a wide array of beverages such as specialty coffees, teas, smoothies, and their proprietary Rebel Energy Drinks. As a key player in the growing coffee market, Dutch Bros Inc. brings a unique, community-focused approach to its operations, emphasizing customer loyalty and community engagement. Founded in 1992 in Grants Pass, Oregon, Dutch Bros Inc. has continued to expand its geographical reach, catering primarily to a youthful demographic that values speedy service and customization options. Its culture and approach heavily influence the retail coffee sector, setting trends for innovative beverage offerings and modern retail strategies within the industry.
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