06:06 AM EDT, 03/27/2024 (MT Newswires) -- Farmer Brothers (FARM) said Tuesday it has finalized a 54-month lease of a new 25,000-square-foot headquarters in Fort Worth, Texas.

The facility will host the company's executive team and 125 to 150 support staff by the end of fiscal 2024.

The coffee and tea roaster and distributor sold its 540,000-square-foot Northlake, Texas, facility last year and moved its production to Portland.

Shares of the company were up more than 3% in Wednesday's premarket activity.

Price: 3.56, Change: +0.11, Percent Change: +3.19