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Irvine-based Diedrich sells Gloria Jean’s brand for $3.1 million
Praise International now takes over 102 franchised and company-operated locations in U.S.
BY Tina BorgattaPublished: June 15, 2009 09:55 AM
Irvine-based Diedrich Coffee Inc. has completed a $3.1 million sale of its Gloria Jean’s Coffees domestic franchise to Praise International North America.
Praise International, which operates more than 1,000 coffeehouses worldwide, already held the rights to the brand outside of the U.S. and Puerto Rico.
Diedrich will continue to provide roasting services for the 102 franchised and company-operated Gloria Jean’s locations involved in the sale for at least the next five years. And Diedrich can continue to use the Gloria Jean brand name in wholesale business channels and for the Keurig K-Cup product line.
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Praise International, which operates more than 1,000 coffeehouses worldwide, already held the rights to the brand outside of the U.S. and Puerto Rico. Diedrich will continue to provide roasting services for the 102 franchised and company-operated Gloria Jean’s locations involved in the sale for at least the next five years. And Diedrich can continue to use the Gloria Jean brand name in wholesale business channels and for the Keurig K-Cup product line. NEXT PAGE >> Related headlines Downtown Disney makes a match with LittleMissMatched OC METRO, June issue: 'Voltaic Solar Generator Bag' OC METRO, June issue: 'Soak up the sun? We're off to the beach ...' |
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