Green Mountain to buy Diedrich Coffee
December 8, 2009
IRVINE, CALIF. — Green Mountain Coffee Roasters, Inc. has entered an agreement to acquire Diedrich Coffee, Inc. This resolves a bidding war between Green Mountain and Peet’s Coffee & Tea, Inc. for the company.
Green Mountain will acquire all the outstanding shares of Diedrich Coffee common stock for $35 in cash per share. As Peet’s didn’t work with Diedrich Coffee to amend a previous merger agreement by the end of the day on Monday, Dec. 7, Diedrich terminated the merger agreement with Peet’s and went with the offer from Green Mountain.