Expansion of discount K-Cups possible with acquisition of Tully’s Coffee wholesale business.
On March 27, 2009, Green Mountain Coffee Roasters, Inc. (the “Company”) completed its acquisition of the “Tully’s” coffee brand and the assets related to the Tully’s Coffee Corporation (“Tully’s”) wholesale business pursuant to the terms of the previously disclosed Asset Purchase Agreement dated September 15, 2008, as amended by Amendment No. 1 thereto dated November 12, 2008 and Amendment No. 2 thereto dated February 6, 2009 by and among the Company, Tully’s and Tully’s Bellaccino, LLC.
Green Mountain Coffee paid a total purchase price in cash of $40.3 million, which was financed through the Company’s existing senior revolving credit facility. The purchase price is subject to an inventory adjustment to be calculated within 120 days of March 27, 2009.
Related posts: