Green Mountain Coffee Roasters, Inc. and Diedrich Coffee, Inc. Receive Requests for Additional Information From FTC
13 Enero 2010 - 6:33PM
PR Newswire (US)
WATERBURY, Vt. and IRVINE, Calif., Jan. 13 /PRNewswire-FirstCall/
-- Green Mountain Coffee Roasters, Inc. (NASDAQ:GMCR) ("GMCR") and
Diedrich Coffee, Inc. (NASDAQ:DDRX) ("Diedrich Coffee") today
announced that they have each received a request for additional
information ("Second Requests") from the U.S. Federal Trade
Commission ("FTC") with respect to the previously announced $35.00
per share cash tender offer by Pebbles Acquisition Sub, Inc. (the
"Purchaser"), a wholly owned subsidiary of GMCR, to purchase all of
the outstanding shares of common stock of Diedrich Coffee. As a
result of the Second Requests, the waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR Act")
during which the FTC is permitted to review the proposed
transaction has been extended until 11:59 p.m., Eastern Time, on
the 10th day after the companies' substantial compliance with the
Second Requests, or until 11:59 p.m., Eastern Time, on the next
business day following that date, if the 10th day falls on a
weekend or Federal holiday. GMCR and Diedrich Coffee expect to
promptly respond to their respective Second Requests, and to
continue to work cooperatively with the FTC as it conducts its
review of the proposed transaction. The transaction is expected to
be completed in early 2010. As previously announced, the tender
offer is scheduled to expire at midnight, New York City time, on
Friday, February 5, 2010. GMCR and the Purchaser will extend the
tender offer's expiration time as necessary to occur concurrently
with the HSR waiting period's expiration time. BofA Merrill Lynch
is serving as financial advisor to GMCR on this transaction and
Ropes & Gray LLP is serving as its legal advisor. Houlihan,
Lokey, Howard & Zukin Capital, Inc. is serving as financial
advisor to Diedrich Coffee and Gibson, Dunn & Crutcher LLP is
serving as legal advisor. About Green Mountain Coffee Roasters,
Inc. (NASDAQ:GMCR) As a leader in the specialty coffee industry,
Green Mountain Coffee Roasters, Inc. is recognized for its
award-winning coffees, innovative brewing technology, and socially
responsible business practices. GMCR's operations are managed
through two business units. The Specialty Coffee business unit
produces coffee, tea and hot cocoa from its family of brands,
including Tully's Coffee®, Green Mountain Coffee®, Newman's Own®
Organics coffee and Timothy's World Coffee®. The Keurig business
unit is a pioneer and leading manufacturer of gourmet single-cup
brewing systems. K-Cup® portion packs for Keurig® Single-Cup
Brewers are produced by a variety of licensed roasters, including
Green Mountain Coffee, Tully's Coffee and Timothy's. GMCR supports
local and global communities by offsetting 100% of its direct
greenhouse gas emissions, investing in Fair Trade Certified(TM)
coffee, and donating at least five percent of its pre-tax profits
to social and environmental projects. Visit www.gmcr.com for more
information. GMCR routinely posts information that may be of
importance to investors in the Investor Relations section of its
web site, including news releases and its complete financial
statements, as filed with the SEC. GMCR encourages investors to
consult this section of its web site regularly for important
information and news. Additionally, by subscribing to GMCR's
automatic email news release delivery, individuals can receive news
directly from GMCR as it is released. About Diedrich Coffee, Inc.
(NASDAQ:DDRX) Diedrich Coffee specializes in sourcing, roasting and
selling the world's highest quality coffees. The company markets
its three leading brands of specialty coffees, Diedrich Coffee,
Coffee People and Gloria Jean's Coffees, through office coffee
service distributors, restaurants and specialty retailers, and via
the company's web stores. Diedrich Coffee is one of the few
roasters under license to produce K-Cups for Keurig Incorporated's
top-selling single-cup brewing system. For more information about
Diedrich Coffee, call 800-354-5282, or go to www.diedrich.com,
www.coffeepeople.com or www.coffeeteastore.com. Forward-looking
statements Certain statements contained herein, including GMCR's
intention to complete the proposed acquisition, are not based on
historical fact and are "forward-looking statements" within the
meaning of the applicable securities laws and regulations. The
"safe harbor" set forth in Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended, does not apply to forward-looking statements made
in connection with a tender offer. Generally, these statements can
be identified by the use of words such as "anticipate," "believe,"
"could," "estimate," "expect," "feel," "forecast," "intend," "may,"
"plan," "potential," "project," "should," "would," and similar
expressions intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. Owing to the uncertainties inherent in
forward-looking statements, actual events or results could differ
materially from those stated herein. Factors that could cause
actual results to differ materially from those in the
forward-looking statements include, but are not limited to, the
impact on sales and profitability of consumer sentiment in this
difficult economic environment, GMCR's success in efficiently
expanding operations and capacity to meet growth, GMCR's success in
efficiently and effectively integrating Tully's and Timothy's
wholesale operations and capacity into its Specialty Coffee
business unit, GMCR's success in introducing new product offerings,
the ability of lenders to honor their commitments under GMCR's
credit facility, competition and other business conditions in the
coffee industry and food industry in general, fluctuations in
availability and cost of high-quality green coffee, any other
increases in costs including fuel, Keurig's ability to continue to
grow and build profits with its roaster partners in the At Home and
Away from Home businesses, the impact of the loss of major
customers for GMCR or reduction in the volume of purchases by major
customers, delays in the timing of adding new locations with
existing customers, GMCR's level of success in continuing to
attract new customers, sales mix variances, weather and special or
unusual events, as well as other risks described more fully in
GMCR's filings with the U.S. Securities and Exchange Commission
(the "SEC"). Forward-looking statements reflect management's
expectations as of the date of this press release, and are subject
to certain risks and uncertainties. GMCR does not undertake to
revise these statements to reflect subsequent developments, other
than in its regular, quarterly earnings releases. Additional
Information This press release is neither an offer to purchase, nor
a solicitation of an offer to sell, any securities. The tender
offer to purchase shares of Diedrich Coffee common stock referenced
in this press release has been made pursuant to a Tender Offer
Statement on Schedule TO, containing an offer to purchase, a form
of letter of transmittal and other documents relating to the tender
offer (the "Tender Offer Statement"), which GMCR and Pebbles
Acquisition Sub, Inc., a wholly owned subsidiary of GMCR, filed
with the SEC and first mailed to Diedrich Coffee stockholders on
December 11, 2009. Security holders of Diedrich Coffee are advised
to read the Tender Offer Statement, because it contains important
information about the tender offer. Investors and security holders
of Diedrich Coffee also are advised that they may obtain free
copies of the Tender Offer Statement and other documents filed by
GMCR with the SEC on the SEC's website at http://www.sec.gov. In
addition, free copies of the Tender Offer Statement and related
materials may be obtained from GMCR by written request to: Green
Mountain Coffee Roasters, Inc., Attention: General Counsel, 33
Coffee Lane, Waterbury, Vermont 05676. GMCR Contacts: Investor
Relations: Frances G. Rathke, CFO 802-882-2300 Investors: Okapi
Partners LLC Bruce Goldfarb / Pat McHugh 212-297-0720 or
877-274-8654 Media: Joele Frank / Dan Katcher Joele Frank,
Wilkinson Brimmer Katcher 212-355-4449 Diedrich Coffee Investor
Relations: Scott Liolios or Cody Slach Liolios Group, Inc. Tel
949-574-3860 DATASOURCE: Diedrich Coffee, Inc. CONTACT: Investor
Relations, Frances G. Rathke, CFO of Green Mountain Coffee
Roasters, Inc., +1-802-882-2300; or Bruce Goldfarb,
+1-212-297-0720, or Pat McHugh, 1-877-274-8654, both of Okapi
Partners LLC, for Green Mountain Coffee Roasters, Inc.; or Scott
Liolios or Cody Slach, both of Liolios Group, Inc.,
+1-949-574-3860, , for Diedrich Coffee, Inc.; or Media, Joele Frank
or Dan Katcher both of Joele Frank, Wilkinson Brimmer Katcher,
+1-212-355-4449, for Green Mountain Coffee Roasters, Inc. Web Site:
http://www.diedrich.com/ http://www.gmcr.com/
http://www.coffeepeople.com/ http://www.coffeeteastore.com/
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