Peet's Coffee and Tea, Inc. Opens New Artisan Roasting Facility in Alameda, Calif.
May 30 2007 - 6:04PM
PR Newswire (US)
New Artisan Roasting Facility Supports Company's Long-Term Growth
Strategy to Drive Super-Premium Coffee Market with its Signature
Quality Beans EMERYVILLE, Calif., May 30 /PRNewswire-FirstCall/ --
Peet's Coffee & Tea, Inc. (NASDAQ:PEET), the leading
super-premium coffee company, today opened the doors to its 138,000
square-foot artisan coffee roasting facility at Harbor Bay Business
Park in Alameda, Calif. The newly-constructed, $29 million facility
will support the company's long-term expansion plans to meet
growing nationwide demand for Peet's distinctive specialty coffees
and teas. (Logo:
http://www.newscom.com/cgi-bin/prnh/20070328/SFW103LOGO ) (Photo:
http://www.newscom.com/cgi-bin/prnh/20070530/AQW085-a
http://www.newscom.com/cgi-bin/prnh/20070530/AQW085-b ) "The
opening of our new artisan roastery marks an important milestone
for Peet's to meet current demand for our signature coffees and
teas and to position the company for growth for the foreseeable
future," said Patrick O'Dea, President and Chief Executive Officer
of Peet's Coffee & Tea. Peet's new artisan roasting facility
was designed to significantly scale capacity for the company's
signature, hand-roasted coffees, without compromising any of the
company's quality standards. "We designed the facility so we can do
much more of what we do best -- hand-roast the best coffee beans in
the world, to order, in small batches to our exacting quality
standards," added O'Dea. "Even though we've added capacity, we have
not compromised any component of quality in our process." The
custom-designed building enables Peet's to maintain the same
"roast-to-order" standards it has upheld for the past 41 years. The
unique specifications of equipment, design and process layout
ensure that coffee is roasted and shipped fresh daily to stores,
homes and businesses. Commitment to Sustainability Peet's new
facility in Alameda was developed with a LEED (Leadership in Energy
and Environmental Design) approach in all areas of design and
construction. Designed by Peet's with developer SRM Associates, the
Alameda facility features recycled materials, water-efficient
landscaping and plumbing, low-energy lighting and heating, and will
use Alameda Power & Telecom's "green" electrical power. "Peet's
is known for its high quality of coffees and teas, and also for its
values as a company," said Joe Ernst, development manager for SRM
Associates. "Peet's approach to its roastery is a model of
environmental awareness and sensitivity." Peet's selected the
Harbor Bay Business Park in Alameda for its prime location and
business environment. "Peet's is a highly respected company in the
Bay Area," said Alameda Mayor Beverly Johnson. "Peet's expansion to
Alameda boosts our city's profile as a premier location for
businesses." About Peet's Coffee & Tea, Inc. Peet's Coffee
& Tea, Inc., (PEET), the leading super-premium coffee company,
is dedicated to artisan roasting, distributing and marketing the
highest quality coffee available to coffee lovers throughout the
United States. Founded in 1966 in Berkeley, Calif., Peet's is
committed to strategically growing its business while maintaining
its unique culture and focus on quality and customer satisfaction.
For more information about Peet's Coffee & Tea, Inc. visit
http://www.peets.com/. This press release contains statements that
are not based on historical fact and are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are based on
management's beliefs as well as assumptions made by and information
currently available to management, including financial and
operational information, the Company's stock price volatility, and
current competitive conditions. As a result, these statements are
subject to various risks and uncertainties. The Company's actual
results could differ materially from those set forth in
forward-looking statements depending on a variety of factors
including, but not limited to, the Company's ability to implement
its business strategy, attract and retain customers, and obtain and
expand its market presence in new geographic regions; the impact of
the Company's stock price volatility on the valuation of
stock-based compensation under SFAS 123(R); the availability and
cost of high quality Arabica coffee beans; consumers' tastes and
preferences; and competition in its market as well as other risk
factors as described more fully in the Company's filings with the
Securities and Exchange Commission, including its Annual Report on
Form 10-K for the year ended December 31, 2006. These factors may
not be exhaustive. The Company operates in a continually changing
business environment, and new risks emerge from time to time. Any
forward-looking statements speak only as of the date of this press
release. http://www.newscom.com/cgi-bin/prnh/20070328/SFW103LOGO
http://www.newscom.com/cgi-bin/prnh/20070530/AQW085-a
http://www.newscom.com/cgi-bin/prnh/20070530/AQW085-b
http://photoarchive.ap.org/ DATASOURCE: Peet's Coffee & Tea,
Inc. CONTACT: Patsy Barich of Double Forte, +1-415-863-4900, ext.
204, , for Peet's Coffee & Tea, Inc. Web site:
http://www.peets.com/
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