McDermott Represents Dutch Bros. Coffee Co-Founder in $550 Million IPO
International law firm McDermott Will & Emery represented Travis Boersma, the Co-Founder of Dutch Bros. Coffee (NYSE: BROS), an Oregon-based operator and franchisor of 470 drive-thru coffee shops located in 11 states, in its $550 million initial public offering (IPO). This is the largest ever IPO originating in Oregon.
This IPO issued on September 15, 2021.
Proceeds from the IPO were valued at approximately $556 million before underwriting discounts, commissions and other offering expenses.
Dutch Bros. Coffee was founded in 1992 by brothers Dane and Travis Boersma who left their family’s dairy farm to start selling coffee out of pushcarts around Downtown Grants Pass. By 2018, the company had more than 400 coffee stands in Oregon, California, Washington, Idaho, Nevada, Colorado, New Mexico, Utah and Arizona. In 2020, Dutch Bros. Coffee expanded to the Southern US with locations opening in Oklahoma and Texas.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.