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Article: Coffee People files form 8-K on terms of Coffee Plantation acquisition from The Second Cup Ltd.
- Article from:
- Business Wire
- Article date:
- April 29, 1997
CopyrightCOPYRIGHT 1997 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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PORTLAND, Ore.--(BUSINESS WIRE)--April 29, 1997--Coffee People, Inc. (NASDAQ: MOKA), a specialty coffee retailer and operator of coffee houses, disclosed the terms of its pending acquisition of 15 Coffee Plantation stores in Phoenix and Tucson, Arizona in a Form 8-K filing with the Securities and Exchange Commission yesterday.
The Coffee Plantation stores are being acquired from a subsidiary of The Second Cup Ltd (TSE:SKL).
In the filing, the company said that it is acquiring the Coffee Plantation locations for approximately $8.2 million, plus the cost of inventory at closing. Of the total purchase price, $6 million, or about 70 percent, is being ...