FINANCE

Peet’s Coffee to acquire Diedrich Coffee for $213M

BY CSA STAFF

Emeryville, Calif. Coffee chain retailer Peet’s Coffee & Tea announced late Monday that it will acquire Irvine, Calif.-based roaster and distributor Diedrich Coffee for $213 million in cash and debt assumption.

The transaction brings such Peet’s brands as Diedrich Coffee, Coffee People and the single-serve rights to the Gloria Jean’s coffee brand, as well as Diedrich’s roasting and packaging facility.

The deal is expected to close by year end, making Diedrich a wholly owned subsidiary of Peet’s.

In September, Diedrich reported profit of $3 million on revenue of $20.1 million for its fiscal 2009 year ended in June. The company has forecast 2010 revenue of $90 million to $95 million.

Last month, Peet’s raised its 2009 profit guidance after reporting third-quarter earnings of $2.5 million on revenue of $73.9 million.

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Dollar General honors military on Veterans Day

BY CSA STAFF

GOODLETTSVILLE, Tenn. Dollar General is honoring men and women who have served our country in the military with a special discount on Veterans Day. On Nov. 11, all veterans, active duty military, National Guard and Reserve, and their immediate families will receive a 10% discount at Dollar General with a Veterans Day coupon.

“Dollar General supports military members, veterans and their families,” said Rick Dreiling, Dollar General’s chairman and CEO. “We are proud of their service to our country and for the sacrifices they have made to protect our freedom. Dollar General’s Veterans Day discount is our way of thanking these extraordinary men and women.”

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Equal pharmacy rewards offered

BY CSA STAFF

Kmart and Target this week both sought to gain new pharmacy customers by dangling a $10 gift card in front of those who transfer or have a new prescription filled at their respective pharmacies. Kmart featured its offer on a half-page cover wrap on its circular with “$10” in large red type, while Target featured its offer on page 24 with more of an emphasis on the word “free.” Either approach is likely to be effective, as there are expected to be plenty of new prescriptions to be filled this fall. And even if that’s not the case, the $10 incentive is a pretty powerful considering consumers can realize a net gain of $6 if they use the coupon to fill a generic product on the retailers’ $4 list.

 

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