EX-23.4 10 exhibit233-sx1.htm EX-23.4
Exhibit 23.4
June 8, 2021
Dutch Mafia,
LLC 110 SW 4th Street
Grants Pass, Oregon 97526
Attn: General Counsel
Ladies and Gentlemen:
Dutch Mafia, LLC (the "Company") has requested that Quantitative Analysis, Inc . ("Quantitative Analysis") execute this letter in connection with a proposed initial public offering by the Company (the "Transaction"), in connection with which the Company will be confidentially submitting and publicly filing a registration statement on Form S-1 (including any amendments and supplements thereto, the "Registration Statement") with the Securities and Exchange Commission and will be preparing additional materials relating to the Offering, including investor presentations, roadshow and testing-the-waters materials, as applicable. In response to such request, please be advised as follows:
1. Quantitative Analysis consents to the Company's use of and reference to Quantitative Analy s is' name and to the site forecasting models commissioned by the Company in the Registration Statement and in any additional materials relating to the Transaction.
2. Quantitative Analysis consents to the Company's use of the research data substantially in the form furnished hereto as Exhibit A and Exhibit B and to the inclusion of such statements or research data in the Registration Statement and in any additional materials relating to the Transaction. In granting such consent, Quantitative Analysis represents that, to its knowledge, the statements made in Exhibit A are accurate and fairly present the matters referred to therein.
3. Quantitative Analysis consents to the filing of this letter as an exhibit to the Registration Statement, if applicable .
Quantitative Analysis a grees that the existence and terms of the Trans a ction constitute confidential information and agrees not to disclose such confidential information to any person or entity or use such confidential information for any purpose. Quantitative Analysis further agrees that this letter satisfies the Company's obligations under Section 5 of that certain Services Contract, entered into a s of March 12, 2019, by and between DB Franchising USA , LLC and Quantitative Analysis.
[Signatur e page f o llows]

Very truly yours, |
Quantitative Analysis, Inc. |
By: | /s/ Deborah Hayden |
Name: | Deborah Hayden |
Title: | President |

[Signature Page to Quantitative Analysis Consent]

Exhibit A
"Based on our internal analysis and third-party research conducted by Quantitative Analysis, we believe there is long-term potential for at least 4,000 Dutch Bros locations in the United States."
"We believe there is an opportunity to significantly expand our shop base in the United States to 4,000 shops nationwide over the long-term based on current whitespace analysis completed by Quantitative Analysis with respect to population density, demographic data, competitor concentration and other variables in both new and existing markets with approximately 20% shop growth year over year."