Combined company unites nearly 250 years of industry expertise to create a leading nationwide route-based coffee, tea and beverage services platform

Royal Cup Coffee and Tea ("Royal Cup"), a leading manufacturer and distributor of premium coffee and tea, today announced the completion of its acquisition of Farmer Brothers Coffee Co. (NASDAQ:FARM) ("Farmer Brothers" or the Company), a national coffee roaster, wholesaler and distributor.

"Today officially marks the beginning of a new chapter for Royal Cup and Farmer Brothers — one built on decades of combined experience and a genuine dedication to the people and customers we serve," said Chip Wann, President and Chief Executive Officer of Royal Cup. "I couldn't be more proud of both organizations, and I look forward to the work ahead as we come together and grow."

The transaction brings together two established coffee and tea organizations, expanding Royal Cup's national reach and strengthening its presence across foodservice, hospitality and retail channels. It creates a cohesive route-based distribution and equipment service network spanning multiple channels – including healthcare, convenience and private label – across the United States, Caribbean, Mexico and Canada. The combined company will operate under the Royal Cup name, be headquartered in Birmingham, Alabama and led by Mr. Wann. As part of the closing, Farmer Brothers President and Chief Executive Officer John Moore, Chief Financial Officer Vance Fisher and Vice President and General Counsel Jared Vitemb will be exiting the company.

"This highly complementary acquisition accelerates Royal Cup's strategy to build a scaled, national platform in the coffee industry," said Wali Bacdayan, Partner at Braemont Capital. "Since investing in Royal Cup, we have supported its execution of a disciplined, sustainable growth plan. The closing of this acquisition represents a significant milestone, and we look forward to continuing to support the team as they move into this next phase."

Under the terms of the definitive agreement, Royal Cup acquired all outstanding shares of Farmer Brothers in an all-cash transaction. Stockholders approved the merger agreement proposal at a special meeting of Farmer Brothers stockholders on May 1, 2026, in connection with the previously announced definitive agreement between Farmer Brothers and Royal Cup. Trading of the Farmer Brothers common stock on NASDAQ Global Exchange was halted pre-market open on May 5, 2026.

Stephens Inc. served as the financial advisor and Kirkland & Ellis LLP acted as legal advisor to Royal Cup and Braemont Capital. North Point Mergers and Acquisitions, Inc. served as the financial advisor and Winston & Strawn LLP acted as the legal advisor to Farmer Brothers.

About Royal Cup Coffee and Tea

Royal Cup Coffee and Tea manufactures and distributes high-quality coffee and tea in a variety of flavors and formats. Since 1896, Royal Cup's reach extends throughout the United States, Mexico, Canada and the Caribbean, serving customers in the food service, hospitality, convenience, office and specialty coffee markets. Built on strong history, Royal Cup's values are the heart of their work. Read more at www.royalcupcoffee.com.

About Farmer Brothers Coffee Co.

Founded in 1912, Farmer Brothers Coffee Co. is a national coffee roaster, wholesaler, equipment servicer and distributor of coffee, tea and culinary products. The company's product lines include organic, Direct Trade and sustainably produced coffee, as well as tea, cappuccino mixes, spices and baking/biscuit mixes.

Farmer Brothers Coffee Co. delivers extensive beverage planning services and culinary products to a wide variety of U.S.-based customers, ranging from small independent restaurants and foodservice operators to large institutional buyers, such as 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. The company's primary brands include Farmer Brothers, Boyd's Coffee, SUM>ONE Coffee Roasters, West Coast Coffee, Cain's and China Mist. You can learn more at Farmerbros.com.

About Braemont Capital

Braemont Capital is a relationship-driven investment firm that partners with entrepreneurs, family business owners, and management teams to capitalize on key growth catalysts. The firm employs a thematic investment strategy focused on high-growth opportunities where differentiated insights and experience provide a competitive advantage. The strategy leverages proprietary knowledge, deep industry expertise, and real-time market intelligence to guide sourcing, diligence, and value creation.

The statements contained in this release and statements that Royal Cup may make orally in connection with this release that are not historical facts, are forward-looking statements. These forward-looking statements involve risks and uncertainties and investors are directed to the risks discussed in documents filed by Farmer Brothers with the U.S. Securities and Exchange Commission.

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Braemont Capital

Gagnier Communications

Dan Gagnier/Lindsay Barber

Braemont@gagnierfc.com

Royal Cup

Markstein

Danny Markstein

danny@markstein.co

Royal Cup Completes Acquisition of Farmer Brothers Coffee Co.