A Recent Acquisition

[Seb Prosser] Hello and welcome to Turning Point from Timely Coffees. My name is Seb, I'm one of the co-founders here and this is a video series we use to talk about different aspects of the coffee industry and how we approach them Timely. And also sometimes a few updates about what's going on in the roastery. So today, one of the things I want to talk about is something that you might have already actually heard about. So a few weeks ago, we actually acquired another coffee roasting company called Precision Coffee Roasters. So Precision is a coffee roasting business that had been around for about seven years in Perth, and they had spent, you know, all, all of their time really making sure that they were roasting and providing the best coffee that they possibly could for a lot of their customers and doing so in a way that was really ethical and transparent. And, you know, really a lot of the values that they had as a business were very similar to our own at Timely. And we kind of saw an opportunity to be able to take the customer base that they have and really make sure that we can continue all of those values and everything they stand for, but do so in a way that was maybe a little bit different and a little bit more comprehensive than what Precision was capable of at the time. So with any business, you kind of reach a point where, you know, to continue to grow, it becomes really challenging. It becomes really hard because you need a certain team size and you need a certain kind of amount of energy and you need a lot of luck. And with us and Precision, it was a good opportunity for us to be able to kind of take that business. They worked really, really hard on and help it get to that next level and help it reach its full potential. So this kind of achieved two things it gave the founders of Precision a really good exit, you know, and we were really happy to be able to do that, and it was really fast and efficient for them, which is kind of the the priority for us when we're kind of, you know, having these discussions, but it also makes sure that we can really put out our coffee to as many people as possible, which has always been our goal. Our goal has been to find coffees that we really believe in that are meaningful for reasons, you know, including quality and also beyond that and share them with as many people as we possibly can. And making sure that we can do that for as many people is really, you know, what we're about as a business. So this gave us an opportunity to increase the amount of people drinking Timely overnight and also make sure that we can continue to serve those customers as well as we possibly could. And as well as they had been served already by the founders of Precision, but also while including a few extra things that maybe Timely does a little bit different. So, you know, this is just one one business model and one avenue for growth that every business is going to have their own kind of opinion on. And for us, it seems like a really good, really good fit for us. We want to make sure that we can give founders of coffee businesses a really good exit. And, you know, for those who have kind of reached a point where, you know, it's really hard to make that next step, then it's a really good opportunity for them to either, you know, see their brand kind of go to that next level or do the next thing in their life. And I think that there's a really there's a lot of value in that. So we're really glad to have the Precision brand as a part of Timely, and we're really glad to kind of have their network of customers along for the journey with us. And we're really glad to see that pretty much every single one of them has been, you know, really happy. We've had really good feedback so far and we're really proud of, you know, not only what we can kind of do for these customers, but also what Precision has built and how we can kind of keep adding to that as well. So we're really happy for the next step, and we're really happy and really excited to see what comes next. So that's it for me in terms of Turning Point in terms of quick update. But we'll have another video coming out very soon in another weekly with more more information about the next coffee you're going to be receiving as a subscriber. But make sure you keep an eye out for updates for anything else that's coming out. And if you have any questions about this or anything else, then make sure you send me an email at seb@timelycoffees.com.au. You know, I'm happy to answer it either here or, you know, one on one by email. Thanks very much and see you next time.