Green Mountain Coffee Roasters will acquire the brand name of Tully's Coffee Corp., as well as the company's wholesale and supply chain businesses, for $40.3 million. Tully's can license back the
rights to its brand name for $1 per year, in perpetuity, said Tom Tully O'Keefe, founder and chairman of the board.
Tully's shareholders will keep the Seattle company's retail business,
which includes company-owned, franchised and licensed retail cafes. Tully's also will hang onto its growing international business, which includes retail stores and a recently established wholesale
segment.
The company's domestic wholesale division, to be acquired by Green Mountain, distributes coffee products to office services, food service distributors and supermarkets. Green
Mountain will also get the supply-chain business, which includes roasting, packaging, warehousing and shipping.
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