Irvine, Calif. Diedrich Coffee said late Friday it will sell its Gloria Jean's Coffees domestic franchise operations to Praise International North America for $3.1 million. Praise is an affiliate of Gloria Jean's Coffees International, which holds the rights to the Gloria Jean's Coffees brand for all international business.
The sale of the domestic franchise operations includes 102 franchise and company-operated locations in 24 states, as well as a five-year roasting agreement and use of the brand names.
Diedrich announced the deal Friday and said it expects the transaction to be complete within two months.
The company said the deal is part of a strategy to focus primarily on the sale of specialty coffees in its wholesale business.