Farmer Bros Co (FARM) to Acquire China Mist Brands in ~$11.3M Deal
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Farmer Brothers Announces Agreement To Acquire China Mist Brands, Inc.
September 12, 2016 4:15 PM EDTFORT WORTH, Texas, Sept. 12, 2016 (GLOBE NEWSWIRE) -- Farmer Bros. Co. (NASDAQ: FARM) (Farmer Brothers or the Company), a national coffee roaster, wholesaler and distributor of coffee, tea and culinary products announced today that it has entered into an agreement to acquire substantially all the assets of China Mist Brands, Inc. (China Mist) for $10.8 million, plus a performance-based payment of $0.5 million if certain sales levels are achieved in the calendar years of 2017 and 2018.
We believe that China Mist is an excellent strategic fit for Farmer Brothers, commented Mike Keown, CEO of Farmer Brothers. The... More
