Diedrich Coffee bidding war continues

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The Irvine coffee roaster is being courted by two major brands: Peet's Coffee & Tea and Green Mountain Coffee Roasters.

Peet's, as you might recall, made a bid to buy Diedrich for $213 million in early November. Once complete, the cash and stock offer would have given Peet's a leg up in the rapidly growing single-cup coffee market, where Diedrich has become a dominant player.

But over the past week, Diedrich has been wooed by another suitor: Green Mountain, a coffee roaster and developer of Keurig, a single-cup brewing system that has revolutionized the way consumers make coffee at home and in the office.

keurig-300x204.jpg


Peet's and Green Mountain are now engaged in a bidding war over Diedrich, with the latest counter-offer coming from Peet's.

The Northern California cafe chain is offering to buy Diedrich in a cash and stock deal valued at $32.50 per share, or $269 million. The revised bid beats a counter-offer made by Green Mountain last week.

http://fastfood.freedomblogging.com/2009/12/01/diedrich-coffee-bidding-war-continues/43361/
 
Alfred Peet is rolling over in his grave. I met the man... and this is not what he would have ever wanted. Go shareholders!
 
[quote author="tyr"]
[quote author="novaseline"]I dearly miss the Dietrich's stores.[/quote]

Kean Coffee -- in Newport Beach and Tustin. Martin still works behind the counters from time to time.[/quote]
No I don't. <!-- s:P -->:P<!-- s:P -->
 
I miss the Cinnamon twists and Mayan Mochas at Diedrich. Met the Old Man at his Costa Mesa shop many, many years ago. Pretty authentic shop that got Starbucked by not keeping it real.


I also miss the .22c per share Diedrich's got to at the worst of times. It might have been lower than that, but man, what a missed opportunity!
 
[quote author="tyr"]
[quote author="novaseline"]I dearly miss the Dietrich's stores.[/quote]

Kean Coffee -- in Newport Beach and Tustin. Martin still works behind the counters from time to time.[/quote]

Way out of my way for a cup of coffee. And once I move, it'll be darkside of the moon out of my way.
 
[quote author="Soylent Green Is People"]I miss the Cinnamon twists and Mayan Mochas at Diedrich. Met the Old Man at his Costa Mesa shop many, many years ago. Pretty authentic shop that got Starbucked by not keeping it real.


I also miss the .22c per share Diedrich's got to at the worst of times. It might have been lower than that, but man, what a missed opportunity!

[/quote]

The mayan mocha was also my favorite. The new version of the mayan mocha at Kean's is very "back of your throat" spiced. I like extreme flavors, so I found it interesting. My wife, on the other hand, thought it was just too much.
 
I also heard the news on the radio last week; I thought Starbucks bought Diedrich's like a couple of years ago? That is why the one in Westpark became a Starucks... maybe the distributions rights? huh?
 
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