Farmer Bros. Names Executive Vice President and Chief Operating Officer

Wed Mar 5, 2008 9:41pm EST
 
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TORRANCE, CALIF.--(Business Wire)--
Farmer Bros. Co. (Nasdaq: FARM) announced today that it has named
Drew H. Webb, an experienced food and beverage business executive, to
the positions of Executive Vice President and Chief Operating Officer.
The appointment became effective March 3, 2008.

   Mr. Webb, 60, has more than 30 years of experience as a food
industry executive. He has been an independent consultant for the past
12 years through his firm, DH Webb & Company, assisting a wide variety
of food and beverage businesses. He also has served in a variety of
general management, sales and marketing, distribution and
manufacturing positions, including as Senior Vice President at ConAgra
Foods, Vice President at Basic American Foods and General Manager of
the Vitality Beverage System. He earned his bachelor's degree from
University of Florida and an Executive MBA from Harvard Business
School.

   "We saw Drew's talents firsthand when he assisted us with the
integration of Coffee Bean International, and feel very fortunate that
he's agreed to join our team," said Rocky Laverty, President and Chief
Executive Officer of Farmer Bros. Co. "His experience and know-how
will help us as we set our priorities and work to strengthen our
operations and grow our customer base."

   Mr. Webb will report to Mr. Laverty. He will have responsibility
for Sales, Marketing and Corporate Development. He joins the executive
team which includes Mr. Laverty; John Simmons, Treasurer and Chief
Financial Officer; and Mike King, Vice President of Sales.

   About Farmer Bros.

   Farmer Bros. Co. is an institutional coffee roaster that sells a
variety of coffee and allied products to the food service industry and
private-label customers such as retailers. The Company's signature
Farmer Bros. trucks and vans bearing the "Consistently Good" logo are
seen throughout Farmer Brothers' 28-state service area. The Company's
wholly owned Coffee Bean Intl. is one of the nation's leading
specialty coffee roasters and wholesalers. Farmer Brothers has paid a
dividend in every year since 1953, increased its dividend in every
year since 1997, and its stock price has risen on a split-adjusted
basis from $1.80 a share in 1980. For more information, go to:
www.farmerbroscousa.com.

   Forward-Looking Statements

   Certain statements contained in this press release regarding the
risks, circumstances and financial trends that may affect our future
operating results, financial position and cash flows are not based on
historical fact and are forward-looking statements within the meaning
of federal securities laws and regulations. These statements are based
on management's current expectations, assumptions, estimates and
observations of future events and include any statements that do not
directly relate to any historical or current fact. These
forward-looking statements can be identified by the use of words like
"anticipates," "feels," "estimates," "projects," "expects," "plans,"
"believes," "intends," "will," "assumes" and other words of similar
meaning. Owing to the uncertainties inherent in forward-looking
statements, actual results could differ materially from those set
forth in forward-looking statements. We intend these forward-looking
statements to speak only at the time of this press release and do not
undertake to update or revise these statements as more information
becomes available except as required under federal securities laws and
the rules and regulations of the SEC. Factors that could cause actual
results to differ materially from those in forward-looking statements
include, but are not limited to, fluctuations in availability and cost
of green coffee, competition, organizational changes, our ability to
successfully integrate the CBI Acquisition, the impact of a weaker
economy, business conditions in the coffee industry and food industry
in general, the Company's continued success in attracting new
customers, variances from budgeted sales mix and growth rates, and
weather and special or unusual events, as well as other risks
described in this press release and the quarterly reports filed by the
Company on Form 10-Q and the annual report filed by the Company on
Form 10-K and other factors described from time to time in the
Company's filings with the SEC.

Abernathy MacGregor Group
James Lucas, 213-630-6550

Copyright Business Wire 2008

 

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