Green Mountain acquires Diedrich Coffee
May 13, 2010
No Comments
Green Mountain Coffee Roasters Inc.(GMCR), Waterbury, Vt., completed its purchase of Diedrich Coffee Inc., Irvine, Calif., for approximately $300 million.
“We are pleased to welcome Diedrich Coffee to the GMCR family,” said Lawrence J. Blanford, GMCR’s president and chief executive officer, in a statement. “We believe this combination provides significant growth opportunities and further advances GMCR’s objective of becoming a leader in the coffee and coffeemaker business.”
The acquisition includes Diedrich Coffee’s manufacturing and distribution facilities in California. Diedrich Coffee specializes in sourcing, roasting and selling coffee under several brands, including Diedrich Coffee, Coffee People and Gloria Jean’s Coffees.
GMCR announced the merger agreement in December. Peet’s Coffee & Tea Inc., Emeryville, Calif., also made an offer for merger, which was terminated upon GMCR’s offer. Diedrich Coffee and GMCR’s merger was approved by the Federal Trade Commission on May 10.
