Green Mountain Buys Diedrich For $300 Million
WATERBURY, Vt. (AP) — Green Mountain Coffee Roasters Inc. has completed its $300 million acquisition of Diedrich Coffee Inc., one of four roasters licensed to produce K-Cups for the top-selling single-serve Keurig brewing system.
The K-Cup brand is owned by Green Mountain, which is based in Waterbury.
Green Mountain said Tuesday it paid $35 per share in cash for each share of common stock. As of midnight Monday, nearly 5.5 million shares had been tendered — roughly 95 percent of the company's outstanding shares.
Diedrich is now a wholly owned subsidiary of Green Mountain and will be part of its specialty coffee division.
Shares of Green Mountain, based in Waterbury, Vt., closed at $76.51 on Tuesday. Diedrich Coffee shares will no longer be traded on the NASDAQ Stock Exchange.