Delta Corp Holdings Limited, a Fast Growing Asset-Light Logistics Company Enters into a Definitive Merger and Share Exchange Agreement with Coffee Holding Co., Inc.

• Proposed transaction will create a public company engaged in Bulk & Energy logistics, fuel supply, commodities (inclusive of coffee), and asset management related services
• Delta has a multinational footprint which facilitates the global trade of energy, raw materials, and agricultural products
• Delta has an established and diversified customer base leading to revenue of $532 million and net income of $45 million for fiscal year ended December 31, 2021
• Delta has experienced significant growth in revenues and profitability with 171% year-over-year growth in revenue and 828% growth in net income for 2021
• Delta’s asset-light business model maintains a strong balance sheet with no debt
• Combined public company to have an implied diluted pro forma enterprise value of approximately $655 million
• Transaction to be completed at a 127% premium to Coffee Holding’s stock price, translating into an implied diluted price per share of $5.50
  

Staten Island, NY and London, United Kingdom, Sept. 30, 2022 (GLOBE NEWSWIRE) -- Coffee Holding Co., Inc. (Nasdaq: JVA) (“Coffee Holding”), a publicly traded integrated wholesale coffee roaster and dealer located in the United States, and Delta Corp Holdings Limited (“Delta”), a privately held holding company for global businesses engaged in Bulk & Energy logistics, fuel supply, commodities, and asset management, announced today that the companies have entered into a definitive merger and share exchange agreement, whereby Coffee Holding and Delta will each become wholly owned subsidiaries of a newly created holding company incorporated under the laws of the Cayman Islands, Delta Corp Holdings Limited (“Pubco”). The closing of the transactions contemplated by the definitive agreement is subject to certain conditions, including, without limitation, the approval of the shareholders of Coffee Holding and the approval of the listing of the shares of Pubco on the Nasdaq Stock Market (“Nasdaq”). Delta shareholders will become the majority shareholders of Pubco as further detailed below.

Following closing of the transactions, which the parties expect will occur in the first quarter of 2023, the combined company will continue under Pubco, and expects to trade on Nasdaq under the ticker symbol “DLOG”. The combined company will continue to operate under the Delta management team led by Mudit Paliwal, Chief Executive Officer and Founder; Peter Shaerf, Non-Executive Chairman; and Joseph Nelson, Chief Financial Officer, while Coffee Holding, as a wholly owned subsidiary of Pubco, will continue to be operated under the leadership of Andrew Gordon, currently Coffee Holding’s President and Chief Executive Officer.