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Article: New World Coffee signs letter of intent to acquire Willoughby's Coffee.
- Article from:
- Business Wire
- Article date:
- September 18, 1996
CopyrightCOPYRIGHT 1996 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK--(BUSINESS WIRE)--Sept. 18, 1996--New World Coffee Inc. (NASDAQ:NWCI) announced today the signing of a letter of intent to acquire Willoughby's Coffee & Tea of New Haven, Conn.
Willoughby's, founded in 1984, is a speciality coffee roaster and retailer which owns and operates a roasting facility and five stores in central Connecticut. A sixth store is scheduled to open next month in New Haven. Through an exclusive contract, Willoughby's has been the exclusive coffee purchaser and roaster for New World since the company's inception.
Commenting on the announcement, Ramin Kamfar, New World Coffee CEO and President said, "The combination of the two ...