November 11, 2009 at 18:38 PM EST
Acquisition Puts Coffee Roaster In The Single-Serve K-Cup Business
Can Peet's Coffee & Tea add some sizzle to its business by taking on a new market? Judging from the recent spike in the coffee roaster's stock price, investors hope that will be the case. Peet's (PEET) turned up the heat last week when it announced a pact to buy wholesale roaster and distributor Diedrich Coffee (DDRX) in a cash-and-stock deal valued at $213 million. Peet's shares soared 11% on the news of the proposed deal and have held most of
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