Peet's Coffee& Tea (PEET) Enhances Proposal to Acquire Diedrich Coffee(DDRX)

Peet’s Coffee & Tea, Inc. (NASDAQ: PEET) announced that it reinstated and enhanced its previously expired proposal to acquire Diedrich Coffee, Inc. (NASDAQ: DDRX) for stock and cash valued at $32.50 based on Peet’s current stock price.

Diedrich Coffee, Inc. is a specialty coffee roaster, wholesaler and retailer. The Company’s brands include Diedrich Coffee, Gloria Jean’s and Coffee People. The majority of its revenue is generated from wholesale customers located across the United States.

Peet's Coffee & Tea, Inc. (Peet's) is a specialty coffee roaster and marketer of fresh roasted whole bean coffee.