Key Stats
Black Rifle Coffee Company is primarily owned by institutional investors and public shareholders following its February 2022 initial public offering. Evan Hafer, the founder and Executive Chairman, retains a significant ownership stake alongside co-founders Mat Best and Jarred Taylor.
The company has evolved from a privately held veteran-owned business into a publicly traded corporation. This transition occurred when Black Rifle Coffee merged with SilverBox Engaged Merger Corp I through a special purpose acquisition company transaction. The deal brought substantial capital to fuel expansion while maintaining the founders’ commitment to supporting veterans and first responders.
Chris Mondzelewski serves as the current Chief Executive Officer after joining the company in January 2024. He brings extensive consumer marketing experience from leadership roles at Mars Incorporated and Kraft Foods. The leadership transition reflects the company’s maturation as a publicly traded enterprise while preserving its mission-driven culture.
Today, Black Rifle Coffee continues expanding its omnichannel distribution strategy through direct-to-consumer sales, wholesale partnerships, and company-operated retail locations. The brand maintains strong connections with the military community while attracting a broader customer base drawn to premium coffee products.
Who Owns Black Rifle Coffee?
Public Ownership Structure
Black Rifle Coffee operates as a publicly traded company on the New York Stock Exchange under ticker symbol BRCC. The ownership structure includes institutional investors, individual retail shareholders, and company insiders. This diversified shareholder base emerged from the February 2022 SPAC merger that transformed the private company into a public entity.
Institutional investors represent the largest ownership category. Major asset management firms and hedge funds hold substantial positions, with holdings that fluctuate based on market conditions and investment strategies. These institutional shareholders include both passive index funds and active investment managers who take positions based on growth potential in the specialty coffee sector.
Founder Ownership Stakes
Evan Hafer maintains significant ownership as the founder and Executive Chairman. His stake reflects both his initial founding equity and shares retained through the public offering process. Mat Best and Jarred Taylor, who co-founded the company, also hold meaningful equity positions that align their interests with company performance.
The founders structured their ownership to preserve long-term alignment with shareholders when Black Rifle Coffee went public. This arrangement differs from some coffee industry acquisitions where founders exit completely. Their continued involvement ensures the veteran-focused mission remains central to business decisions.
Who is on the Board of Directors for Black Rifle Coffee?
Executive Leadership
Chris Mondzelewski serves as Chief Executive Officer and Director since January 2024. He brings over 28 years of consumer marketing and business leadership experience. His previous roles included Chief Growth Officer at Mars Incorporated and various senior positions at Kraft Foods. Before his business career, Mondzelewski served five years as a United States Marine, deploying in support of Operation Desert Freedom.
Evan Hafer holds the position of Executive Chairman after serving as CEO from the company’s founding through December 2023. He remains actively involved in strategic direction and preserving the company’s veteran-focused mission. His military background and coffee roasting expertise continue shaping product development and brand identity.
Independent Directors with Consumer Expertise
Katy Dickson serves as Lead Independent Director and chairs the compensation committee. Her career spans over 23 years at General Mills in marketing leadership roles, followed by executive positions at American Girl and Manitoba Harvest. Dickson holds a Bachelor of Science from the United States Air Force Academy and served as a Captain in the Air Force.
Chip Molloy brings extensive financial and retail experience as former CFO of multiple public consumer companies including Sprouts Farmers Market, Under Armour, and PetSmart. He currently serves on boards of Sally Beauty Holdings and Pet Valu Holdings, chairing audit committees for both. Molloy served as a United States Navy fighter pilot for ten years before transitioning to business.
Military and Operations Directors
Major General Clay Hutmacher serves as President and CEO of the Special Operations Warrior Foundation. He spent his career at every level in the United States Special Operations community, ultimately becoming Director of Operations at United States Special Operations Command. His military expertise and nonprofit leadership provide valuable perspective on veteran-focused initiatives.
The board’s military representation reflects the company’s commitment to its founding mission. Multiple directors with service backgrounds ensure veteran perspectives inform strategic decisions. This composition distinguishes Black Rifle Coffee from competitors in the specialty coffee industry.
Financial and Investment Directors
Stephen Kadenacy previously served as CFO of AECOM and played an integral role in the SPAC merger as CEO of SilverBox Engaged Merger Corp. He co-founded SilverBox Capital and brings decades of experience managing global public organizations. His financial expertise helps guide capital allocation and growth strategies.
Glenn Welling founded Engaged Capital in 2012 and serves as Chief Investment Officer. His background includes positions at Relational Investors and Credit Suisse. Welling serves on multiple public company boards and brings activist investor perspective to strategic planning. His involvement ensures shareholder interests receive strong representation.
Beverage Industry Experts
Mel Landis joined the board in September 2025, currently serving as President of OLIPOP. His background includes Chief Customer Officer at BodyArmor Sports Nutrition and senior leadership roles at The Coca-Cola Company. Landis brings deep expertise in ready-to-drink beverages and distribution strategy, valuable for product expansion into new categories.
Sean Moriarty serves as CEO of Primer and Lead Independent Director at Eventbrite. His experience includes CEO positions at Leaf Group and Ticketmaster. Moriarty provides technology and digital commerce expertise supporting the company’s omnichannel growth strategy. His background complements the board’s consumer products focus.
Strategic Investment Representation
Steven Taslitz co-founded Sterling Partners in 1983 and serves as Chairman of the firm. He joined Black Rifle Coffee’s board in 2018 during earlier funding rounds. Taslitz sits on multiple company boards and brings extensive private equity and growth investing experience. His early involvement reflects confidence in the company’s potential before going public.
The board composition balances military heritage with public company governance requirements. Directors bring expertise across consumer products, financial management, retail operations, and digital marketing. This diverse skill set positions the company to navigate challenges facing publicly traded beverage companies while staying true to its mission.
History of Black Rifle Coffee Co-founders
Evan Hafer’s Military Background and Vision
Evan Hafer founded Black Rifle Coffee in 2014 after serving twenty years in the United States Army. His military career included fifteen years in Special Forces as a Green Beret with the 19th Special Forces Group. Following his military service, Hafer worked as a contractor for the Central Intelligence Agency.
During his time in the military and as a contractor, Hafer developed a passion for roasting coffee. He started experimenting with coffee roasting as a way to bring quality coffee to his fellow service members. This passion eventually evolved into the concept for Black Rifle Coffee Company.
Mat Best and Jarred Taylor Partnership
Mat Best joined as a co-founder after serving five tours with the 2nd Ranger Battalion, including four deployments to Iraq and one to Afghanistan. Best built a substantial following through his YouTube channel featuring military-themed humor and content. His social media expertise proved invaluable for marketing the emerging coffee brand.
Jarred Taylor served in the United States Air Force as a Tactical Air Control Party specialist. His skills in video production and digital marketing complemented Best’s on-camera presence. Taylor and Best had previously collaborated on Article 15 Clothing before partnering with Hafer on the coffee venture.
The three veterans combined their unique skill sets to create a brand that resonated with the military community. Hafer provided coffee roasting expertise and business leadership, Best brought marketing prowess and public recognition, while Taylor contributed production and partnership development capabilities. Their collaboration transformed a garage operation with a one-pound roaster into a publicly traded company generating hundreds of millions in annual revenue, similar to other veteran-founded beverage distributors.
Largest Shareholders of Black Rifle Coffee
Institutional Investment Holdings
Point72 Asset Management emerged as a significant institutional shareholder by adding 825,000 shares in the first quarter of 20251. This represented a 300 percent increase in their position, bringing their estimated investment to approximately $1.7 million. The hedge fund’s substantial increase demonstrated confidence in the company’s growth trajectory.
Vanguard Group maintained a notable position despite reducing holdings by 634,743 shares in early 2025. The reduction represented a 19.3 percent decrease valued at approximately $1.3 million. Despite this adjustment, Vanguard continues holding a meaningful stake as one of the largest institutional investors.
Goldman Sachs Group increased its position by acquiring 437,359 shares, representing a 204.5 percent boost. The investment valued at approximately $914,000 reflected growing institutional interest from major financial institutions. These strategic additions by Goldman Sachs signal potential confidence in the specialty coffee market.
Engaged Capital Strategic Investment
Engaged Capital LLC played a crucial role in bringing Black Rifle Coffee public through the SPAC transaction. The investment firm committed $100 million as part of the merger agreement in 20222. Glenn Welling, founder of Engaged Capital, serves on the board of directors providing strategic guidance.
The investment firm specializes in activist investing with a focus on consumer-facing companies. Their involvement extends beyond capital provision to active participation in strategic direction and governance matters. This partnership reflects Engaged Capital’s confidence in the veteran-focused brand and specialty coffee market opportunity.
Major Institutional Shareholders Activity (Q1 2025)
Founder and Management Ownership
Evan Hafer maintains a significant ownership position as Executive Chairman, though specific percentages fluctuate with market activity and are not publicly disclosed in detail. Mat Best continues as a substantial shareholder while serving in brand ambassadorship and marketing roles. Jarred Taylor holds equity as Executive Vice President of Partnerships.
The founders structured their ownership to align with long-term company performance when the SPAC merger closed. This arrangement ensures management interests remain connected to shareholder value creation. The ownership structure reflects both the transition from private to public markets and the founders’ ongoing commitment to the business.
Public Float and Trading Activity
Black Rifle Coffee has approximately 114 million shares outstanding as of mid-2025. The public float allows retail investors to participate in ownership alongside institutional shareholders. Trading volume varies based on market conditions and company announcements.
Individual shareholders represent a meaningful portion of ownership following the public listing. The retail investor base includes many customers who support the company’s veteran-focused mission. This shareholder composition differs from typical coffee company competitors with more concentrated institutional ownership.
FAQs
Is Black Rifle Coffee still considered a veteran-owned company?
Black Rifle Coffee was founded by veterans and maintains strong veteran leadership, but as a publicly traded company, ownership is now distributed among numerous public and institutional shareholders.
When did Black Rifle Coffee go public?
Black Rifle Coffee went public on February 9, 2022, through a SPAC merger with SilverBox Engaged Merger Corp I, with shares trading on NYSE under ticker BRCC.
Who is the current CEO of Black Rifle Coffee?
Chris Mondzelewski serves as CEO since January 2024. Evan Hafer, the founder, transitioned to Executive Chairman while remaining actively involved in company strategy and direction.
What percentage of Black Rifle Coffee does Evan Hafer own?
Specific ownership percentages are not publicly disclosed. Hafer maintains a significant stake as founder and Executive Chairman, with holdings subject to standard public company reporting requirements.
How much is Black Rifle Coffee worth?
Black Rifle Coffee has a market capitalization of approximately $228 million as of July 2025, with a stock price around $2.00 per share on the NYSE.
