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RMCF-News
RMCF-Events
Company Reports Q2 Revenue of $6.7M, Board Forms Strategic Committee
Reports Q2 revenue $6.7M vs. $6.8M last year. In Q2, the board formed a strategic committee, which with the assistance of its advisors is exploring strategic alternatives, which may include a possible sale, merger, or other business combination, or a going-private transaction. The company has received expressions of interest from third parties. Subsequent to quarter end, the company completed a $6.6M sale-leaseback of its Durango, Colorado, manufacturing facility, and net proceeds have been used to repay $6.6M in debt. "Since stepping into the Interim CEO role, I have been encouraged by the way our leadership team has come together around a shared set of priorities for the business," said Allen Harper, interim CEO.
Rocky Mountain Chocolate Signs $6.6M Related Party Transaction
Rocky Mountain Chocolate announced it has signed a $6.6M sale-leaseback agreement with American Heritage Legacies, involving its Durango, Colorado property. American Heritage Legacies is a local company controlled by the family of Allen Harper, the company's interim CEO. As such, the sale-leaseback transaction constitutes a "related party transaction" for the company. The company expects to use the net proceeds from the transaction to repay its existing $6.6M promissory note, which accrues interest at a rate of 12% per annum. The lease has an initial term of 10 years, with an option to renew for an additional 10 years. Annual rent will be $624,000 during the first year, representing 9.45% of the $6.6M purchase price, and will increase by 2% annually. The lease will allow the company to continue using the Durango facility as its corporate headquarters and production and warehouse facility. The purchase price was supported by an independent appraisal of the property.
Rocky Mountain Chocolate Appoints David Denker as COO
Rocky Mountain Chocolate announced the appointment of David Denker as COO. Denker, who has served as VP of franchise development since joining RMCF in 2025, will assume broader responsibility for the company's operations, including its Durango manufacturing and production operations, franchise operations and franchise development.
Company Q1 Revenue Declines to $6.1M
Reports Q1 revenue $6.1M vs. $6.4M last year. The revenue decline was driven by lower royalty and marketing fees under revised franchise agreements, which offset a 3% increase in Durango product and retail sales from price increases. The company also noted that total costs and expenses increased due to higher cost of sales, higher general and administrative costs tied to a franchise website and third-party delivery platform rollout, and higher retail operating costs from expanding to four company-owned stores. "While our first quarter results reflect continued near-term challenges, I believe we are entering a phase where execution, alignment and accountability will be critical," said interim CEO Allen Harper.
Rocky Mountain Chocolate Appoints Al Harper as Interim CEO
Rocky Mountain Chocolate announced the appointment of former board member, Al Harper, as interim CEO and principal executive officer for a 180-day term, effective immediately.
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