Diedrich Coffee completes sale of Gloria Jean’s Coffees

Irvine, Calif. Diedrich Coffee has completed the sale of its Gloria Jean's Coffees domestic franchise operations to Praise International North America for approximately $3.1 million.

This includes a total of 102 franchised and company-operated Gloria Jean's Coffees locations across 24 states. As part of the sale agreement, Diedrich Coffee retains the rights to use the Gloria Jean's Coffees brand name for various wholesale business channels and its Keurig K-Cup product line.

The parties also signed an exclusive five-year agreement for Diedrich Coffee to provide roasting services to the Gloria Jean's Coffees domestic franchise operations acquired by Praise International North America in the transaction.