Some 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.