Cutting Back, Toronto Firm Reduces Stake in Diedrich
- Share via
A Toronto company that wound up with an 8% stake in Diedrich Coffee Inc. said Wednesday in a filing with regulators that it has reduced its stake in the Irvine coffeehouse chain to 6.8%.
Second Cup Ltd. said in the filing with the Securities and Exchange Commission that it sold 190,000 Diedrich shares between Dec. 1 and Jan. 18 at prices ranging from 41 cents to $1.31 a share.
Second Cup had acquired its stake last year by selling its 69% interest in Coffee People Inc. to Diedrich for $23 million in cash and 1.5 million shares of Diedrich stock.
After its recent sales, Second Cup said it now beneficially holds 854,495 shares of Diedrich.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
