Dutch Bros Inc. Announces Expansion in Fourth Quarter and Full Year of 2023; Announces New Shop Openings in 2024
January 08, 2024 at 12:08 pm
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Dutch Bros Inc. announced it opened 37 new shops in the fourth quarter of 2023, of which 32 were company-operated and opened 159 new shops in the full year 2023, of which 146 were company-operated. As of December 31, 2023, the Dutch Bros system consisted of 831 shops (542 company-operated and 289 franchised-operated) across 16 states.
For full year 2024, Dutch Bros is providing the following preliminary outlook: Total system shop openings are expected to be at least 150 - 165.
Dutch Bros Inc. is an operator and franchiser of drive-thru shops, which is focused on serving hand-crafted beverages. The Company sells a range of customizable hot, iced and blended beverages. Coffee-based beverages include its espresso-based custom drinks, cold brew and its proprietary Freeze blended beverages. Its Private Reserve coffee is a 100% Arabica three-bean blend, roasted in its Grants Pass facility. Its proprietary Blue Rebel energy drink is customizable with flavors and modifiers. It also offers a variety of teas, lemonades, sodas and smoothies. The Company has two segments: Company-operated shops, and Franchising and other. The Company-operated shops segment includes coffee shop sales to customers. The Franchising and other segment includes bean and product sales to franchise partners and includes the initial franchise fees, royalties, and marketing fees. It has approximately 831 shops, of which 542 are operated by the Company and 289 are franchised, across 16 states.
DUTCH BROS INC. 
