The drive-thru chain ranks No. 2 among Oregon's most valuable businesses, trailing only Nike. (Mike Rogoway/The Oregonian)

With market capitalization of $11.8 billion, Grants Pass-founded company trails only Nike among Oregon’s most valuable businesses

Drive-thru chain Dutch Bros is formally moving its headquarters from its hometown in Grants Pass to its rapidly growing office near Phoenix.

The move isn’t a surprise. Dutch Bros CEO Christine Barone has worked in Arizona since the company hired her in 2023 and the chain began moving many other corporate jobs there early last year.

Still, Dutch Bros’ exit is a major symbolic blow in Oregon.

It’s the first large, homegrown company to emerge in Oregon in many generations. With a market capitalization of $11.8 billion, it trails only Nike among the state’s most valuable businesses.

“To support the next phase of Dutch Bros’ growth, we’re relocating additional roles to our new Phoenix office and making strategic changes to the structure of several teams,” Dutch Bros told the Portland Business Journal, which first reported the news of the company’s move.

“Bringing more people together will allow us to better serve our customers and crews across the country,” the company said. “With these changes, the Phoenix office will become our official HQ.”

Founded as a single Grants Pass coffee cart in 1992 by Travis Boersma and his late brother Dane, Dutch Bros sells energy drinks, coffee and other beverages in drive-thru stands across the country. It had nearly 1,000 at the end of last year and plans to have more than 1,100 by the end of 2025.

Dutch Bros’ revenues grew 33% last year, to $1.3 billion, and the company forecasts another 22% growth in 2025.

Its fastest-growing markets are in Texas and the Southeast. When Dutch Bros began expanding its corporate offices in Arizona last year the company said it wanted to be closer to those markets, and closer to a major airport so executives could quickly reach other cities.

Dutch Bros has 18,000 employees, most of them working at its drive-thru stands, and 8,000 others who work at franchised locations. The company hasn’t disclosed how many work in Grants Pass and how many in Arizona.

It wasn’t immediately clear whether Dutch Bros plans to relocate or lay off workers at its current headquarters in Grants Pass. The company didn’t immediately respond to requests for more information.

“We’ll definitely feel the impact. We’ve been fortunate,” said Terry Hopkins, CEO of the Grants Pass & Josephine County Chamber of Commerce. But he said he expects Dutch Bros will still retain significant operations locally.

“All of the roasting facilities and stands will still be here and employing local people,” Hopkins said. He said he expects Boersma, who now serves as Dutch Bros’ chairman, will stay in town, noting that he still has one child in high school in Grants Pass.

“They still maintain a home here in Grants Pass,” Hopkins said.