Dutch Bros. Coffee

Dutch Bros was founded on February 12, 1992, by Dane and Travis Boersma, brothers of Dutch descent, in Grants Pass, Oregon.{{cite news |last=Rogoway |first=Mike |date=2021-08-21 |title=Dutch Bros seeks to raise $100 million in IPO, hopes to have 4,000 coffee stands someday |url=https://www.oregonlive.com/business/2021/08/dutch-bros-seeks-to-raise-100-million-in-ipo-hopes-to-have-4000-coffee-stands-someday.html |work=The Oregonian |location= |access-date=2021-10-04 |archive-date=2021-10-06 |archive-url=https://web.archive.org/web/20211006002831/https://www.oregonlive.com/business/2021/08/dutch-bros-seeks-to-raise-100-million-in-ipo-hopes-to-have-4000-coffee-stands-someday.html |url-status=live }}{{cite news |last=Adams |first=Susan |date=2016-06-15 |title=The Coffee Cult: How Dutch Bros. Is Turning Its 'Bro-istas' Into Wealthy Franchisees |url=https://www.forbes.com/sites/susanadams/2016/06/15/the-coffee-cult-how-dutch-bros-is-turning-its-bro-istas-into-wealthy-franchisees/?sh=62e065523694 |work=Forbes |location= |access-date=2021-10-04 |archive-date=2021-11-13 |archive-url=https://web.archive.org/web/20211113010745/https://www.forbes.com/sites/susanadams/2016/06/15/the-coffee-cult-how-dutch-bros-is-turning-its-bro-istas-into-wealthy-franchisees/?sh=62e065523694 |url-status=live }} Their family's third-generation dairy farm had been struggling due to changes in environmental regulations, and the brothers were looking to start a new business.{{cite news |last=Tims |first=Dana |date=2017-09-28 |title=Top Workplaces 2017: Dutch Bros. Coffee finds strength in its relationships |url=https://www.oregonlive.com/business/2017/09/top_workplaces_2017_dutch_bros.html |work=The Oregonian |location= |access-date=2021-10-05 |archive-date=2021-09-27 |archive-url=https://web.archive.org/web/20210927010006/https://www.oregonlive.com/business/2017/09/top_workplaces_2017_dutch_bros.html |url-status=live }}{{cite news |last=Culverwell |first=Wendy |date=2014-08-15 |title=How Dutch Bros. grew from a pushcart in Grants Pass to a $150M coffee mainstay |url=https://www.bizjournals.com/portland/blog/2014/08/how-dutch-bros-grew-from-a-pushcart-in-grants-pass.html |work=Portland Business Journal |publisher=American City Business Journals |access-date=2021-10-05 }} Travis Boersma suggested a coffee cart where they could sell espresso. Dane Boersma was able to help finance the idea with money he had set aside while running a Dairy Queen franchise. They spent an initial US$12,050 ({{Inflation|US|12050|1992|fmt=eq}}) on an espresso machine and a single pushcart, which they set up in downtown Grants Pass.{{cite news |date=2017-01-19 |title=Dutch Bros. purchases original location |url=https://kobi5.com/news/local-news/dutch-bros-purchases-original-location-44938/ |work=KOBI (TV) |publisher=California Oregon Broadcasting, Inc. |access-date=2021-10-05 |archive-date=2021-11-13 |archive-url=https://web.archive.org/web/20211113010746/https://kobi5.com/news/local-news/dutch-bros-purchases-original-location-44938/ |url-status=live }} The name Dutch Bros was chosen in honor of their immigrant grandparents.

They soon added four more carts and, by 1994, had established their first drive-through location.{{cite news |last=Tognini |first=Giacomo |date=2021-09-15 |title=Dutch Bros Coffee IPO Brews Oregon's Newest Billionaire |url=https://www.forbes.com/sites/giacomotognini/2021/09/15/dutch-bros-coffee-ipo-brews-oregons-newest-billionaire-travis-boersma/ |work=Forbes |access-date=2021-10-05 |archive-date=2021-09-17 |archive-url=https://web.archive.org/web/20210917161722/https://www.forbes.com/sites/giacomotognini/2021/09/15/dutch-bros-coffee-ipo-brews-oregons-newest-billionaire-travis-boersma/ |url-status=live }}{{cite news |author= |date=2021-09-15 |title=TSG-backed Dutch Bros valued at over $5 billion in NYSE debut |url=https://www.reuters.com/article/dutch-bros-ipo/tsg-backed-dutch-bros-valued-at-over-5-billion-in-nyse-debut-idUSKBN2GB1VA |work=Reuters |location= |access-date=2021-10-05 |archive-date=2021-11-13 |archive-url=https://web.archive.org/web/20211113010745/https://www.reuters.com/article/dutch-bros-ipo/tsg-backed-dutch-bros-valued-at-over-5-billion-in-nyse-debut-idUSKBN2GB1VA |url-status=live }}

In 1996, the company began roasting its own coffee, sourcing beans from El Salvador, Colombia, and Brazil.{{cite news |last=Angel |first=Devanie |date=2006-02-16 |title=Dutch treat |url=https://www.newsreview.com/chico/content/dutch-treat/47165/ |work=Chico News & Review |location= |access-date=2021-10-05 |archive-date=2021-11-13 |archive-url=https://web.archive.org/web/20211113010750/https://www.newsreview.com/chico/content/dutch-treat/47165/ |url-status=live }}

In 1994, Dane and Travis Boersma struck a deal with a customer, Marty McKenna, which allowed him to open his own Dutch Bros in Medford, about 30 miles away from Grants Pass.{{cite news |last=Preszler |first=David |date=May 17, 1999 |title=Dutch Bros. opens 10th |url=https://www.mailtribune.com/business/1999/05/17/dutch-bros-opens-10th/ |work=Mail Tribune |access-date=October 5, 2021}} McKenna's first stand performed so well that he soon opened up a second one across town. In 1997, the Boersmas brought McKenna on as a partner, hoping he would continue to expand the Medford operations. Two years later, they bought out McKenna's stake in the company.

In 1999, Dutch Bros started formally franchising.{{cite news |last=Furniss |first=Jennifer |date=February 28, 2009 |title=Tactics: Dutch Bros. rejects the corporate grind |url=https://www.oregonbusiness.com/article/archives/item/3848-tactics-dutch-bros-rejects-the-corporate-grind |work=Oregon Business |location= |access-date=October 5, 2021 |archive-date=November 13, 2021 |archive-url=https://web.archive.org/web/20211113010750/https://www.oregonbusiness.com/article/archives/item/3848-tactics-dutch-bros-rejects-the-corporate-grind |url-status=live }} The company opened its 50th franchised drive-thru location in 2004. That same year, shortly after moving into a new headquarters in Grants Pass, a nearby dumpster fire spread to the building, destroying Dutch Bros roasting equipment, five vehicles, and thousands of pounds of coffee beans.{{cite news |author= |date=August 13, 2004 |title=Still No Cause For Oregon Coffee Warehouse Fire |url=https://www.firehouse.com/home/news/10509145/still-no-cause-for-oregon-coffee-warehouse-fire |work=Firehouse |location= |access-date=October 5, 2021 |archive-date=February 24, 2025 |archive-url=https://archive.today/20250224210756/https://www.firehouse.com/home/news/10509145/still-no-cause-for-oregon-coffee-warehouse-fire |url-status=live }} Following this incident, the company continued to expand, and by the end of 2004, operated 61 coffee shops spanning from Northern California to Oregon's Willamette Valley.{{cite news |author= |date=December 24, 2004 |title=Coffee shops perking up Oregon town |url=https://www.seattletimes.com/seattle-news/coffee-shops-perking-up-oregon-town/ |work=Seattle Times |location= |access-date=October 5, 2021 |archive-date=November 13, 2021 |archive-url=https://web.archive.org/web/20211113010755/https://www.seattletimes.com/seattle-news/coffee-shops-perking-up-oregon-town/ |url-status=live }}

By 2009, Dutch Bros was running approximately 135 coffee stands in seven states and generating $50 million in gross annual revenue. Dane Boersma died in 2009 from Amyotrophic Lateral Sclerosis.{{Cite web |url=https://www.oregonlive.com/business/2009/10/post_9.html |title=Dutch Bros. Coffee co-founder dies |publisher=The Oregonian |language=en |access-date=16 October 2019 |archive-date=17 January 2021 |archive-url=https://web.archive.org/web/20210117012549/https://www.oregonlive.com/business/2009/10/post_9.html |url-status=live }} In 2013, Travis Boersma was featured on the American version of the television show Undercover Boss.{{Cite web |url=https://www.cbs.com/shows/undercover_boss/video/CAFDE2BA-669C-570F-1ABB-5855D894F07A/undercover-boss-dutch-bros-coffee/ |title=Season 5 Episode 8: Dutch Bros. Coffee |publisher=CBS |language=en |access-date=21 December 2018}}{{Cite web |url=https://www.idahopress.com/news/local/nampa-dutch-bros-will-be-featured-on-undercover-boss-tonight/article_6f0d6988-4dbe-11e3-b4a3-001a4bcf887a.html |title=Nampa Dutch Bros. will be featured on 'Undercover Boss' tonight |publisher=Idaho Press |language=en |access-date=21 December 2018 |archive-date=6 January 2022 |archive-url=https://web.archive.org/web/20220106063320/https://www.idahopress.com/news/local/nampa-dutch-bros-will-be-featured-on-undercover-boss-tonight/article_6f0d6988-4dbe-11e3-b4a3-001a4bcf887a.html |url-status=live }} Revenues continued to grow into the mid-2010s. The company earned $238 million in systemwide sales in 2015, $350 million in 2016, and $415.3 million in 2017, by which point there were over 283 Dutch Bros locations.{{cite news |last=Adams |first=Susan |date=May 9, 2017 |title=Dutch Bros., A Forbes Small Giant, Is Moving Its Headquarters And Investing In Its Hometown |url=https://www.forbes.com/sites/susanadams/2017/05/09/dutch-bros-a-forbes-small-giant-is-moving-its-headquarters-and-investing-in-its-hometown/?sh=49208afc2421 |work=Forbes |location= |access-date=October 5, 2021 |archive-date=November 13, 2021 |archive-url=https://web.archive.org/web/20211113010749/https://www.forbes.com/sites/susanadams/2017/05/09/dutch-bros-a-forbes-small-giant-is-moving-its-headquarters-and-investing-in-its-hometown/?sh=49208afc2421 |url-status=live }}{{cite news |last=Spencer |first=Malia |date=October 1, 2018 |title=Dutch Bros lands private equity investment, plans massive expansion |url=https://www.bizjournals.com/portland/news/2018/10/01/dutch-bros-lands-private-equity-investment-plans.html |work=Portland Business Journal |location= |access-date=October 5, 2021 |archive-date=April 21, 2023 |archive-url=https://archive.today/20230421005820/https://www.bizjournals.com/portland/news/2018/10/01/dutch-bros-lands-private-equity-investment-plans.html |url-status=live }}

File:Dutch Bros Albuquerque, NM.png|left]]

In January 2017, Dutch Bros purchased a vacant shopping center in downtown Grants Pass, where their original push cart was located. The company converted 20,000 square feet of the shopping center's interior into futsal courts for local youth soccer teams and workout space for its employees.{{cite news |last=Kolliner |first=Kimberly |date=January 19, 2017 |title=Dutch Bros makes a multi-million dollar purchase for the community |url=https://ktvl.com/news/local/dutch-bros-makes-a-multi-million-dollar-purchase-for-the-community |work=KTVL |publisher=Sinclair Broadcasting |access-date=October 5, 2021 |archive-date=November 13, 2021 |archive-url=https://web.archive.org/web/20211113010748/https://ktvl.com/news/local/dutch-bros-makes-a-multi-million-dollar-purchase-for-the-community |url-status=live }} In March of that same year, the company bought the Washington Federal bank building across the street from the shopping center, to move its headquarters and 150 employees into the bank building the following fall.{{cite news |last=Whiting |first=Lisa |date=March 27, 2017 |title=New home for Dutch Bros. |url=https://www.mailtribune.com/business/2017/03/27/new-home-for-dutch-bros/ |work=Mail Tribune |access-date=October 5, 2021 |archive-date=November 13, 2021 |archive-url=https://web.archive.org/web/20211113010756/https://www.mailtribune.com/business/2017/03/27/new-home-for-dutch-bros/ |url-status=live }}

In October 2018, Dutch Bros received an undisclosed amount from private equity firm TSG Consumer Partners for a minority stake in the company and announced plans to expand to 800 stores over the next five years.

Dutch Bros reported revenues of $238 million in 2019, $327.4 million in 2020, and $228 million over the first six months of 2021, heading into the company formally filing for its IPO in August 2021.{{cite news |last=Bjorke |first=Christopher |date=August 20, 2021 |title=Dutch Bros files for IPO, seeks to raise $100M |url=https://www.bizjournals.com/phoenix/news/2021/08/20/dutch-bros-file-for-ipo.html |work=Phoenix Business Journal |location= |access-date=October 5, 2021 |archive-date=February 24, 2025 |archive-url=https://archive.today/20250224211514/https://www.bizjournals.com/phoenix/news/2021/08/20/dutch-bros-file-for-ipo.html |url-status=live }} The company stated in its filing that it hoped to raise $100 million, which it would use toward paying down $192 million in long-term debt. Dutch Bros held its IPO and began trading on the New York Stock Exchange with the ticker symbol "BROS" on September 15, 2021.{{cite news |last1=Patton |first1=Leslie |last2=Hytha |first2=Michael |date=September 15, 2021 |title=Dutch Bros Shares Get 59% Debut Boost After $484 Million IPO |url=https://www.bloomberg.com/news/articles/2021-09-15/dutch-bros-gets-boost-in-trading-debut-after-484-million-ipo |work=Bloomberg |location= |access-date=October 5, 2021 |archive-date=September 16, 2021 |archive-url=https://web.archive.org/web/20210916152523/https://www.bloomberg.com/news/articles/2021-09-15/dutch-bros-gets-boost-in-trading-debut-after-484-million-ipo |url-status=live }} The IPO raised $484 million, selling about 21 million shares for $23 each. Travis Boersma retained about 74 percent of shareholder voting power after the listing, due to his ownership of Class B stock.

Dutch Bros operates as a chain. The vast majority of its stores are drive-thru stands.{{cite news |last=Tanyeri |first=Dana |date=February 1, 2017 |title=Growth Chains: Woe is Who? - Dutch Bros Coffee |url=https://fesmag.com/topics/trends/14210-growth-chains-woe-is-who?start=2 |work=Foodservice Equipment & Supplies |location= |access-date=November 11, 2021 |archive-date=March 5, 2022 |archive-url=https://web.archive.org/web/20220305000808/https://fesmag.com/topics/trends/14210-growth-chains-woe-is-who?start=2 |url-status=live }}{{cite news |last=Oches |first=Sam |date=July 27, 2021 |title=Dutch Bros. gets a jolt from drive-thru |url=https://www.nrn.com/top-500-restaurants/dutch-bros-gets-jolt-drive-thru |work=Nation's Restaurant News |location= |access-date=November 11, 2021 |archive-date=September 29, 2021 |archive-url=https://web.archive.org/web/20210929012131/https://www.nrn.com/top-500-restaurants/dutch-bros-gets-jolt-drive-thru |url-status=live }} Each store sells hot and cold drinks, including non-coffee options, and a selection of baked goods.{{cite news |last=Beltran |first=Luisa |date=August 23, 2021 |title=Dutch Bros Coffee Goes Public |url=https://www.barrons.com/articles/dutch-bros-coffee-to-go-public-51629734160 |work=Barron’s |location= |access-date=August 23, 2021 |archive-date=August 23, 2021 |archive-url=https://web.archive.org/web/20210823161239/https://www.barrons.com/articles/dutch-bros-coffee-to-go-public-51629734160 |url-status=live }}{{cite news |last=Pitz |first=Ray |date=August 8, 2013 |title=A sweet combination |url=https://pamplinmedia.com/sg/77-news/158752-a-sweet-combination |work=Sherwood Gazette |location= |access-date=November 11, 2021 |archive-date=March 5, 2022 |archive-url=https://web.archive.org/web/20220305000804/https://pamplinmedia.com/sg/77-news/158752-a-sweet-combination |url-status=dead }}

The company started franchising in 1999. In 2008, Dutch Bros transitioned to an internal franchising model that required potential franchisees to have worked for the company for a minimum of three years. This resulted in a 97 percent continuity rate among franchises; between 2010 and 2015, only three percent of all Dutch Bros franchise locations closed. In 2017, Dutch Bros stopped franchising and started opening only company-owned stores.{{cite news |last=Wilson |first=Marianne |date=September 15, 2021 |title=Dutch Bros. goes public with big expansion plans |url=https://chainstoreage.com/dutch-bros-goes-public-big-expansion-plans |work=Chain Store Age |access-date=November 11, 2021 |archive-date=October 24, 2021 |archive-url=https://web.archive.org/web/20211024061636/https://chainstoreage.com/dutch-bros-goes-public-big-expansion-plans |url-status=live }} As of June 2021, franchisees were running 264 Dutch Bros stores and another 207 were fully company-owned. The company has a history of buying out franchisees who failed to meet the company's customer service standards.

Dutch Bros is headquartered in Grants Pass, Oregon.{{cite web |url=https://sec.report/Document/0001628280-21-018412/#if5a42d6eca0e41688a446ea83a82068d_545 |title=Form S-1/A Dutch Bros Inc. |author= |date=September 13, 2021 |website=SEC.gov |publisher= |access-date=October 14, 2021 |quote=}} It is majority-owned by Travis Boersma, who holds the title of executive chairman, and Christine Barone is its president and CEO. In September 2021, Dutch Bros became a publicly traded company, selling 21 million shares for a total of $484 million. {{as of|2023|12}}, the company employed approximately 24,000 people, and {{as of|2024|8|lc=y}}, it had 912 stores.{{cite news |author= |date=August 19, 2024 |title=Dutch Bros raises full-year guidance following strong second quarter sales |url=https://www.worldcoffeeportal.com/Latest/News/2024/August/Dutch-Bros-raises-full-year-guidance-following-str |work=World Coffee Portal |access-date=November 20, 2024 |archive-date=December 9, 2024 |archive-url=https://web.archive.org/web/20241209163744/https://www.worldcoffeeportal.com/Latest/News/2024/August/Dutch-Bros-raises-full-year-guidance-following-str |url-status=live }} In 2024, Dutch Bros opened a distribution and roasting center in Melissa, Texas. The center is a 65,000 square foot plant located at the intersection of U.S. 75 and State Highway 121.{{Cite web |date=2023-08-14 |title=Fast-growing coffee company Dutch Bros. plans roasting plant in Melissa |url=https://www.dallasnews.com/business/real-estate/2023/08/14/fast-growing-coffee-company-dutch-bros-plans-roasting-plant-in-melissa/ |access-date=2024-12-01 |website=Dallas News |language=en |archive-date=2024-07-25 |archive-url=https://web.archive.org/web/20240725013054/https://www.dallasnews.com/business/real-estate/2023/08/14/fast-growing-coffee-company-dutch-bros-plans-roasting-plant-in-melissa/ |url-status=live }}

Through its fundraiser "Drink One for Dane", Dutch Bros. Coffee donates to the Muscular Dystrophy Association.{{cite web |title=Dutch Bros holds 16th Annual Drink One for Dane fundraiser to support the fight against ALS |url=https://www.mda.org/press-releases/dutch-bros-holds-16th-annual-drink-one-for-dane-fundraiser-to-support-the-fight-against-als |website=www.mda.org |publisher=MDA |access-date=2023-09-03 |archive-date=2023-09-03 |archive-url=https://web.archive.org/web/20230903205452/https://www.mda.org/press-releases/dutch-bros-holds-16th-annual-drink-one-for-dane-fundraiser-to-support-the-fight-against-als |url-status=live }} Its other annual charitable initiatives include Dutch Luv, which benefits local food banks, and Buck for Kids, which supports local youth organizations including chapters of the Boys & Girls Clubs of America.{{cite news |last=Aikins |first=Adjoa |date=February 1, 2024 |title=Dutch Bros kicks off Dutch Luv Giveback |url=https://kmph.com/news/local/dutch-bros-kicks-off-dutch-luv-giveback-valentinues-day-giving-back-community-connection-central-california-food-bank |work=KMPH |access-date=April 3, 2024 |archive-date=March 15, 2024 |archive-url=https://web.archive.org/web/20240315005958/https://kmph.com/news/local/dutch-bros-kicks-off-dutch-luv-giveback-valentinues-day-giving-back-community-connection-central-california-food-bank |url-status=live }}{{cite news |last=Leister |first=Allen |date=September 14, 2023 |title=Dutch Bros Coffee to host fundraiser for Boys & Girls Clubs of Benton and Franklin Counties |url=https://keprtv.com/news/local/dutch-bros-coffee-to-host-fundraiser-for-boys-girls-clubs-of-benton-and-franklin-counties |work=KEPR |access-date=April 3, 2024 |archive-date=May 7, 2024 |archive-url=https://web.archive.org/web/20240507205420/https://keprtv.com/news/local/dutch-bros-coffee-to-host-fundraiser-for-boys-girls-clubs-of-benton-and-franklin-counties |url-status=live }}

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{{sister project links|auto=yes}}

• {{official website|https://www.dutchbros.com}}

{{finance links

| name = Dutch Bros Inc.

| symbol = BROS

| sec_cik = 1866581

| yahoo = BROS

| google = BROS:NYSE

}}

{{Oregon Companies|state=show}}

Category:1992 establishments in Oregon

Category:2021 initial public offerings

Category:American companies established in 1992

Category:Coffeehouses and cafés in Oregon

Category:Companies based in Grants Pass, Oregon

Category:Companies listed on the New York Stock Exchange

Category:Food and drink companies based in Oregon

Category:Restaurants established in 1992