Peet’s Buys Diedrich

peetsSome interesting news out in the last couple of days that Peet’s, the coffee roaster and retailer out of Emeryville, Calif., has bought Irvine, Calif.-based, Diedrich Coffee. Here’s the story from the L.A. Times. The deal is reportedly worth around $213 million. The acquisition will help Peet’s expand its wholesale operation.

Additionally, Peet’s stock closed at a near record high following the announcement, and Forbes reports that the company is looking to compete with Green Mountain in the fast growing single-cup coffee market.

About the Author

Ken

Kenneth R. Olson is co-founder and publisher of Barista Magazine the worldwide trade magazine for the professional coffee community. He has written extensively about specialty coffee, traveled near and far for stories, activities, and fun, and been invited to present on topics important to coffee culture. He is also an avid fan of the Portland Trail Blazers and the Washington Huskies. Go Blazers! Go Dawgs!