Peet's Coffee To Buy Diedrich In $213M Deal

Law360, New York (November 3, 2009, 1:37 PM EST) -- California coffee powerhouse Peet's Coffee & Tea Inc. has sealed a $213 million cash-and-stock deal to acquire Diedrich Coffee Inc.

The deal, announced Monday, will value Diedrich stock at $26 per share and is expected to allow Peet's to dip into the single-cup coffee market, the companies said in a joint statement.

Peet's will finance the acquisition using both cash on hand at both companies and $140 million of committed debt financing. The exchange offer is expected to close by the end of calendar year 2009,...
To view the full article, register now.