GMCR Contact Information:
Joele Frank / Dan Katcher
Joele Frank, Wilkinson Brimmer Katcher
Okapi Partners LLC
Bruce Goldfarb / Pat McHugh
212-297-0720 or 877-274-8654
GREEN MOUNTAIN COFFEE ROASTERS, INC. ACQUIRES
DIEDRICH COFFEE, INC.
Waterbury, Vt (May 11, 2010) – Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) (“GMCR”) today announced that it
has acquired Diedrich Coffee, Inc. (NASDAQ: DDRX) (“Diedrich Coffee”) for $35 per share of common stock in cash, pursuant
to a cash tender offer and a “short form” merger, in a transaction with a total value of approximately $300 million.
GMCR’s tender offer for all outstanding shares of Diedrich Coffee common stock expired at midnight, Eastern Time, on
Monday, May 10, 2010. As of the tender offer’s expiration time, approximately 5,446,334 shares had been tendered and not
properly withdrawn pursuant to the tender offer, which represented approximately 95.06% of the outstanding shares as of the
tender offer’s expiration date. GMCR and the wholly owned subsidiary through which it conducted the tender offer, Pebbles
Acquisition Sub, Inc. (“Purchaser”), accepted for payment all shares that were validly tendered and not properly withdrawn,
and paid for these shares in accordance with the tender offer’s terms.
Subsequent to the tender offer, GMCR effected the merger of Purchaser with and into Diedrich Coffee, with Diedrich Coffee
being the surviving corporation, on May 11, 2010. As a result of the merger, Diedrich Coffee has become a wholly owned
subsidiary of GMCR.
Lawrence J. Blanford, President and Chief Executive Officer of GMCR, said, “We are pleased to welcome Diedrich Coffee to the
GMCR family. We believe this combination provides significant growth opportunities and further advances GMCR’s objective
of becoming a leader in the coffee and coffeemaker businesses.”
Blanford continued, “By taking the next logical step beyon