Green Mountain awaits approval after outbidding Peet’s to acquire Diedrich

17th January 2010

Green Mountain Coffee Roasters was expected to close its takeover of California-based roaster/retailer Diedrich Coffee in early 2010, after outbidding Peet's Coffee and Tea for the company, reports said.

The US Federal Trade Commission in mid-January asked for more information about the takeover, and Green Mountain extended its offer for Diedrich until early February, according to Reuters.

Green Mountain's final tender offer of $35 per share values the acquisition at about $290m (€202m), exceeding Peet's final bid of $32.50 per share, the reports added.

If the FTC approves, Diedrich would be the third roaster licensee of Green Mountain's K-cup single-cup brewing system to be acquired by the Vermont-based roaster in recent months, following Green Mountain's purchases of both Tully's and Timothy's World of Coffee in 2009.