Another Acquisition...Peets is buying Diedrich
by Chee Leng
Earlier, we have Kraft selling to Senseo and Sara Lee selling to P&G, now we have Peet's coffee buying Diedrich, the difference is this deal is almost confirm, waiting for approval from the various authorities.
Peet's is big in gourmet coffee -how big? Well, they started to sell the Godiva coffee in middle of this in most of the grocery stores across US.
So, if you are looking for gourmet coffee then Peets is the name. Now, they are buying diedrich coffee, the two main value that diedrich has is is affiliation to K-cups and the single serve Gloria jeans brand.
With the acquisition of Diedrich, Peets would get a foot hold into the very lucrative and hyper growing single serve coffee market and it would partner with a market leader -Keurig.
And it would gain access to another gourmet coffee _Gloria Jeans.
This deal is not expensive when compared to deals rumored about Kraft and Sara Lee, but it still involves a lot money -$213 million...
For consumers like us, we might be able to get Godiva k-cups?:) And for shareholders of Peets and Diedrich -they can look forward to a fat christmas...