Baird's Investment Banking Group is pleased to announce the following transaction:

Date:
September 2021
Company:
Dutch Bros Inc.
Description:
Initial Public Offering
Sector(s):
Consumer
Baird served as a bookrunner on this offering
$556.800 Million

Dutch Bros Inc. (“Dutch Bros” or the “Company”) (NYSE: BROS), a high growth operator and franchisor of drive-thru coffee shops in the United States and a portfolio company of TSG Consumer Partners, LLC (“TSG”), recently completed an initial public offering of 24,210,526 shares of Class A common stock, including the exercise in full of the underwriters’ option to purchase 3,157,894 additional shares, at a price of $23.00 per share, generating gross proceeds of approximately $556.8 million. Dutch Bros intends to use the net proceeds from the offering to purchase Dutch Bros OpCo units, repay debts and for general corporate purposes.

Dutch Bros Inc. is focused on serving high quality, hand-crafted beverages with unparalleled speed and superior service. Founded in 1992 by brothers Dane and Travis Boersma, Dutch Bros began with a double-head espresso machine and a pushcart in Grants Pass, Oregon. While espresso-based beverages are still at the core of what they do, Dutch Bros now offers a wide variety of unique, customizable cold and hot beverages that delight a broad array of customers. The Company believes Dutch Bros is more than just the products they serve—they are dedicated to making a massive difference in the lives of their employees, customers and communities. This combination of hand-crafted and high-quality beverages, their unique drive-thru experience and their community-driven, people-first culture has allowed them to successfully open new shops and continue to share the “Dutch Luv.” Dutch Bros’ network currently includes 471 locations across 11 states in the United States as of June 30, 2021. Dutch Bros is headquartered in Grants Pass, Oregon.

TSG is a leading private equity firm focused exclusively on the branded consumer sector. Since its founding in 1987, TSG has been an active investor in the food, beverage, restaurant, fitness, beauty, personal care, household, apparel & accessories and e-commerce sectors.

For additional information about this transaction, please contact:

Chris Sciortino +1-312-609-4923
Ryan Brunker +1-312-609-4679
Sandy Walter +1-414-298-5118
Maria Watts +1-312-609-4743