EMERYVILLE, Calif., May 30 /PRNewswire-FirstCall/ -- Peet's Coffee & Tea, Inc. , 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.
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"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.
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