Diedrich Signs Another Franchise Agreement
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Diedrich Coffee Inc. said it has signed a franchise agreement to open as many as 50 coffeehouses in Wyoming, Montana and Colorado as part of the Irvine chain’s nationwide expansion plans.
Under the arrangement, K. Andrew Wilson Enterprises will develop the coffeehouses and has options for future development. The first units will be opened in Wyoming and Montana, Diedrich said. Financial terms were not disclosed.
The company, which has announced similar franchise pacts in other parts of the country, said it plans to open 1,200 to 1,500 coffeehouses in the next five to seven years through franchise agreements.
The company expects its first franchise-developed coffeehouse to open in early fall.
Diedrich’s stock closed Monday at $5, up 75 cents, on the Nasdaq market.
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