Growers Direct Coffee Co. Inc. (fka GWDCQ)

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Coffee Pacifica Plans To Buy 3M Diedrich Coffee Shares >CFPCLast update: 6/11/2007 10:23:00 AMDOW JONES NEWSWIRES Coffee Pacifica Inc. (CFPC) Monday said it plans to proceed with a tender offer for 3 million shares of Diedrich Coffee Inc. (DDRX). Diedrich Coffee is a current customer of the Berkeley, Calif.-based distributor and marketer of green bean coffee, according to a Securities and Exchange Commission filing. Coffee Pacifica said it plans to offer four shares of its common stock to Diedrich Coffee shareholders in exchange for each share of Diedrich stock. The company said by acquiring stock of Diedrich Coffee, it hopes to guarantee a long-term purchaser of its green bean coffee. Coffee Pacifica said it feels that the offer will solidify its market share in the wholesale and retail venues and achieve the vertical integration from "tree-to-cup" under a "growers direct" distribution system. As of April 18, Diedrich Coffee had about 5.44 million common shares outstanding, according to a previous SEC filing. Shares of Coffee Pacifica recently traded at $1.73, up 8 cents, or 4.85%, while Diedrich Coffee's shares recently traded at $5, up 38 cents, or 8.23%. -Gee L. Lee, Dow Jones Newswires; 202-862-1346 (END) Dow Jones NewswiresJune 11, 2007 10:23 ET (14:23 GMT)