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Article: Peet's Coffee & Tea Announces Definitive Agreement to Acquire Diedrich Coffee in Cash-and-Stock Transaction.
- Article from:
- Mergers & Acquisitions Week
- Article date:
- November 18, 2009
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Peet's Coffee & Tea, Inc. (NASDAQ: PEET) and Diedrich Coffee, Inc. (NASDAQ: DDRX) announced that they have entered into a definitive agreement under which Peet's will acquire Diedrich in a cash-and-stock transaction valued at $26.00 per share or a total value of approximately $213 million. The acquisition will further solidify Peet's leading position in the specialty coffee and tea market, with premium quality brands in every segment of the category.
With this acquisition, Peet's will enter the rapidly growing single cup coffee market with strong specialty coffee brands helping to drive household penetration of the K-Cup brewer system by leveraging Peet's ...