Diedrich Coffee Franchise News

IRVINE, Calif. /PRNewswire via COMTEX/ - IRVINE, Calif., April 19 /PRNewswire-FirstCall/ -- Diedrich Coffee, Inc. (Nasdaq: DDRX), a leading roaster and wholesaler of the world's finest coffees, reported financial results for the third quarter ended March 3, 2010.

Total revenue increased 45% to $25.9 million in the third quarter of fiscal 2010 from $17.9 million in the third quarter of fiscal 2009, led by a 55% or $8.7 million increase in K-Cup sales.

Gross margin in the third quarter of fiscal 2010 increased to 26.8% of total revenue as compared to 25.6% during the same period of last year. In addition to price increases taken during fiscal 2010, the improvement resulted from Diedrich Coffee's continuing ability to leverage fixed manufacturing costs over higher production volumes...

IRVINE, Calif. /PRNewswire via COMTEX/ -- Sean McCarthy, president and chief financial officer of Diedrich Coffee, Inc. (Nasdaq: DDRX), has received the Orange County Business Journal 2009 CFO of the Year Award for 'Outstanding Transformation Agent.' McCarthy, who has served as the company's chief financial officer since 2006, was recently appointed to also serve as the company's president. Diedrich Coffee is one of the nation's leading roasters and wholesalers of premium coffees and is one of a few roasters under license to produce K-Cups for the Keurig top-selling single-cup brewing system.

The award was announced at the Journal's 3rd Annual CFO of the Year Awards Ceremony held in Irvine, California, and in association with the OC/Long Beach Chapter of the Cal CPA Society...

IRVINE, Calif. /PRNewswire via COMTEX/ -- Diedrich Coffee, Inc. (Nasdaq: DDRX), a leading roaster and wholesaler of the world's finest coffees, reported financial results for the second quarter ended December 9, 2009.

Total revenue increased 78% to $24.7 million in the second quarter of fiscal 2010 from $13.9 million in the second quarter of fiscal 2009, led by a 97% or $11.3 million increase in K-Cup sales.

Gross margin in the second quarter of fiscal 2010 increased to 27% of total revenue as compared to 17% during the same period of last year. In addition to price increases taken during fiscal 2009, the improvement was due primarily to higher machine utilization, optimal resource management, and improved inventory controls along with our ability to continue to leverage the company's fixed manufacturing costs over higher production volumes...

Paul Heeschen to Become Executive Chairman and Sean McCarthy Appointed President IRVINE, Calif. /PRNewswire via COMTEX/ -- Diedrich Coffee, Inc. (Nasdaq: DDRX) today announced that, effective February 1, 2010, Paul C. Heeschen will assume the role of Executive Chairman and Sean M. McCarthy will be promoted to President of the Company in connection with the previously announced departure of the Company's Chief Executive Officer, J. Russell Phillips.

Paul Heeschen has served on the Company's Board of Directors since 1996 and has been the non-executive Chairman since 2001. By transitioning to the role of Executive Chairman, he will assume a more active role at the Company working collaboratively with Mr. McCarthy.

Sean McCarthy joined Diedrich Coffee in 2004 and has served as the Company's Chief Financial officer since 2006...

WATERBURY, Vt. and IRVINE, Calif. /PRNewswire via COMTEX/ -- 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...

Peet's Coffee & Tea Merger Agreement Terminated IRVINE, Calif. /PRNewswire-FirstCall/ -- Diedrich Coffee, Inc. (Nasdaq: DDRX) today announced that it has entered into a merger agreement with Green Mountain Coffee Roasters, Inc. (Nasdaq: GMCR) pursuant to which GMCR will acquire all of the outstanding shares of common stock of Diedrich Coffee for $35.00 in cash per share.

The Board of Directors of Diedrich Coffee had previously determined and announced that the GMCR $35 per share, all-cash offer was superior to the terms of the merger agreement with Peet's Coffee & Tea, Inc. (Nasdaq: PEET) and the exchange offer contemplated thereby, as amended by the revised proposal received from Peet's on November 30, 2009 (which revised proposal subsequently expired on December 1, 2009)...

Board Determines Offer Continues to be Superior Proposal IRVINE, Calif. /PRNewswire-FirstCall/ -- Diedrich Coffee, Inc. (Nasdaq: DDRX) today announced that, on Tuesday, December 1, 2009, Green Mountain Coffee Roasters, Inc. (Nasdaq: GMCR) enhanced its offer to enter into a merger transaction pursuant to which GMCR would acquire all of the outstanding shares of common stock of Diedrich Coffee for $35.00 per share in cash. In addition, GMCR proposed a form of merger agreement that is more favorable to Diedrich Coffee's stockholders than the current merger agreement between Diedrich Coffee and Peet's Coffee & Tea, Inc. (Nasdaq: PEET). In light of this enhanced proposal from GMCR, Diedrich Coffee today also announced that its Board of Directors determined that the proposal from GMCR, as revised, continues to be a "Superior Proposal" (as defined in the Peet's merger agreement) to the terms of the merger agreement with Peet's and the exchange offer contemplated thereby, as amended by the revised proposal received from Peet's on November 30, 2009...

IRVINE, Calif. /PRNewswire-FirstCall/ -- Diedrich Coffee, Inc. (Nasdaq: DDRX) today announced that, on the evening of Monday, November 30, 2009, it received a revised offer from Peet's Coffee & Tea, Inc. (Nasdaq: PEET) to pay to Diedrich Coffee's stockholders a value of $32.50 per share (based on the closing price of Peet's common stock on November 30, 2009 of $32.56 per share) in a combination of cash and Peet's stock. Peet's publicly announced their revised offer shortly after transmitting it to Diedrich Coffee.

Under the revised proposal, Diedrich Coffee's stockholders would receive, for each share of Diedrich Coffee common stock, a stock component consisting of 0.321 of a share of Peet's common stock plus a cash component in an amount between $21...

IRVINE, Calif. /PRNewswire-FirstCall/ -- Diedrich Coffee, Inc. (Nasdaq: DDRX) announced today that it will extend the period that Peet's Coffee & Tea, Inc. (Nasdaq: PEET) has to negotiate a proposal with Diedrich Coffee to amend the current merger agreement and the offer contemplated thereby in a manner that Diedrich Coffee's Board of Directors determines is at least as favorable to Diedrich Coffee's stockholders as the revised offer of Green Mountain Coffee Roasters, Inc. (Nasdaq: GMCR) until 5:00 p.m. Pacific Time on Monday, November 30, 2009.

In a press release issued earlier today that its Board of Directors had determined that the recently revised offer from GMCR continues to be a superior proposal to the terms of the merger agreement with Peet's, Diedrich Coffee announced that Peet's had until 5:00 p...

IRVINE, Calif. /PRNewswire-FirstCall/ -- Diedrich Coffee, Inc. (Nasdaq: DDRX) today announced that, on the evening of Monday, November 23, 2009, it received a revised offer from Green Mountain Coffee Roasters, Inc. (Nasdaq: GMCR) to enter into a merger transaction pursuant to which GMCR would acquire all of the outstanding shares of common stock of Diedrich Coffee for $32.00 per share in cash, an increase of $2.00 per share over GMCR's prior offer. As with its prior offer, GMCR included with its revised offer a merger agreement signed by GMCR that contains substantially the same terms (other than the amount and form of consideration) as the merger agreement with Peet's Coffee & Tea, Inc. (Nasdaq: PEET).

GMCR submitted its revised offer in response to a binding offer received by Diedrich Coffee from Peet's to pay to Diedrich Coffee's stockholders a combination of $19...

Green Mountain Coffee Roasters Also Submits Bid IRVINE, Calif. /PRNewswire-FirstCall/ -- Diedrich Coffee, Inc. (Nasdaq: DDRX) today announced that, on the evening of Sunday, November 22, 2009, it received a revised offer from Peet's Coffee & Tea, Inc. (Nasdaq: PEET) offering to pay to Diedrich Coffee's stockholders a combination of $19.80 in cash and 0.321 of a share of Peet's common stock for each share of Diedrich common stock tendered and accepted in its exchange offer, representing total consideration of $32.00 per share based on Peet's closing price on November 20, 2009 of $38.00 per share. The stock component of the revised purchase price is based on a fixed exchange ratio, so the value of that component will increase or decrease with changes in the market price of Peet's common stock...

IRVINE, Calif. /PRNewswire-FirstCall/ -- Diedrich Coffee, Inc. (Nasdaq: DDRX), a leading roaster and wholesaler of the world's finest coffees, reported financial results for the first quarter ended September 16, 2009.

Total revenue increased 52% to $15.8 million in the first quarter of fiscal 2010 from $10.4 million in the first quarter of fiscal 2009, led by a 66% or $5.8 million increase in Keurig K-Cup sales.

Gross margin in the first quarter of fiscal 2010 increased to 26% of total revenue as compared to 21% during the same period last year. In addition to price increases taken during fiscal 2009, the improvement was due primarily to higher machine utilization, lower temporary help and overtime, the reduction of scrap and waste due to improved inventory controls, lower outbound freight costs and the ability to leverage our fixed manufacturing costs over higher production volumes...

IRVINE, Calif. /PRNewswire-FirstCall via COMTEX/ -- Diedrich Coffee, Inc. (Nasdaq: DDRX), a leading roaster and wholesaler of the world's finest coffees, will hold a conference call today, November 2, 2009 at 5:30 p.m. Eastern time to discuss its results for the first quarter ended September 16, 2009.

Members of Diedrich Coffee's executive management team will host the presentation, followed by a question and answer period.

Date: Monday, November 2, 2009
Time: 5:30 p.m. Eastern time (2:30 p.m. Pacific time)
Dial-In Number: 1-800-862-9098
International: 1-785-424-1051
Conference ID#: 7DIEDRICH


The conference call will be Web broadcasted simultaneously and available for replay via the investor section of the company's Web site at www...

IRVINE, Calif. /PRNewswire-FirstCall/ -- Diedrich Coffee, Inc. (Nasdaq: DDRX), a leading roaster and wholesaler of the world's finest coffees, has initiated a transition plan with respect to the company's chief executive officer.

"The board of directors is very pleased with what the company, under the direction of Russ Phillips, has achieved during the past eighteen months," said Paul C. Heeschen, the company's chairman of the board. "As previously announced, we completed the disposition of our less-profitable retail and franchise operations to focus on roasting, packaging and wholesale sales. The board had asked one of its own members, Mr. Phillips, to assume the CEO position in order to utilize his experience in the manufacturing sector to address many of the inefficiencies and other issues the company faced in its operations...

IRVINE, Calif., Sept. 21 /PRNewswire-FirstCall/ -- Diedrich Coffee, Inc. (Nasdaq: DDRX), a leading roaster and wholesaler of the world's finest coffees, reported financial results for the fourth quarter and fiscal year ended June 24, 2009.
Fourth Quarter 2009 Highlights Net revenue in the fourth quarter increased 57% to $20.1 million when compared with the same period of the prior year, led by a 75% or $7.8 million increase in Keurig K-Cup sales. Net income was $3.0 million or $0.54 per basic share vs. a net loss of $10.2 million or $(1.86) per basic share compared to the same period of the prior year. Completed transition to premier coffee roaster and wholesaler with divesture of Gloria Jean's franchise operations for approximately $3...

IRVINE, Calif., Sept. 15 /PRNewswire-FirstCall/ -- Diedrich Coffee, Inc. (Nasdaq: DDRX), a leading roaster and wholesaler of the world's finest coffees, will hold a conference call on Monday, September 21, 2009 at 4:30 p.m. Eastern time to discuss their results for the fourth quarter and fiscal year ended June 24, 2009.

Members of Diedrich Coffee's executive management team will host the presentation, followed by a question and answer period.

Date: Monday, September 21, 2009
Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)
Dial-In Number: 1-888-789-9572
International: 1-416-695-7806
Conference ID#: 4015895

The conference call will be Web broadcasted simultaneously and available for replay via the investor section of the company's Web site at www...

Irvine, Calif. /PRNewswire-FirstCall/ -- Diedrich Coffee, Inc. (Nasdaq: DDRX), a leading roaster and wholesaler of the world's finest coffees, was added to the U.S. small-cap Russell 2000(R) Index after the equity markets closed on June 26, 2009.

Membership in the Russell 2000, which remains in place for one year, is based on membership in the broad-market Russell 3000(R) Index. The company was also added to the Russell 2000 Growth style index.

Annual reconstitution of Russell's U.S. indexes captures the 4,000 largest U.S. stocks ranked by total market capitalization as of the end of May. Russell determines membership for its equity indexes primarily by objective market-capitalization rankings and style attributes...

Irvine, Calif., /PRNewswire-FirstCall/ -- Diedrich Coffee, Inc. (Nasdaq: DDRX), a leading roaster and wholesaler of the world's finest coffees, is expanding Keurig K-Cup(R) production capacity at the company's roasting and packaging facility in Castroville, Calif.

The company will be adding equipment for a sixth K-Cup production line and upgrading the equipment of an existing line, which together will increase the facility's K-Cup output capacity by more than 40%. The upgrade and new installation is expected to cost approximately $3.1 million and come on line by this fall.

"We're adding this K-Cup packaging capacity in order to address projected increases in demand," said J. Russell Phillips, president and CEO of Diedrich Coffee...

Irvine, Calif., /PRNewswire-FirstCall/ -- Diedrich Coffee, Inc. (Nasdaq: DDRX), a leading roaster and wholesaler of the world's finest coffees, has completed the sale of its Gloria Jean's Coffees domestic franchise operations to Praise International North America, Inc. for approximately $3.1 million.

The sale of the Gloria Jean's Coffees domestic franchise operations to Praise International North America includes a total of 102 franchised and company-operated Gloria Jean's Coffees locations across 24 states. As part of the sale agreement, Diedrich Coffee retains the rights to use the Gloria Jean's Coffees brand name in perpetuity for various wholesale business channels and its Keurig K-Cup(R) product line. The parties also signed an exclusive five-year agreement for Diedrich Coffee to provide roasting services to the Gloria Jean's Coffees domestic franchise operations acquired by Praise International North America in the transaction...

Irvine, Calif.,/PRNewswire-FirstCall via COMTEX/ -- Diedrich Coffee, Inc. (Nasdaq: DDRX) and Praise International North America, Inc. have agreed upon June 12, 2009 as the closing date for the sale of Diedrich Coffee's Gloria Jean's Coffees domestic franchise operations.

As part of its strategy to capitalize on the growth of the wholesale specialty coffee market and its strength as a premier roaster and distributor of the world's finest coffees, on March 27, 2009, Diedrich Coffee announced a definitive agreement with Praise International North America, an affiliate of Gloria Jean's Coffees International, for the sale of the Gloria Jean's Coffees domestic franchise operations. Gloria Jean's Coffees International currently holds the rights to the Gloria Jean's Coffees brand outside of the United States and Puerto Rico...