Published 07-07-06
Submitted by Peet's Coffee & Tea
EMERYVILLE, Calif., - Peet's Coffee & Tea, Inc. (NASDAQ: PEET), a specialty coffee roaster and marketer, today announces the return of a very special offering, Las Hermanas, named for women members of a cooperative who grow and mill their own coffee in the highlands of Nicaragua. Bright and balanced, with velvety smooth texture and lovely sweetness, Las Hermanas coffee celebrates the great care that these "sisters" invest in quality. Las Hermanas coffee is available for a limited time while supplies last.
To meet Peet's high standards, the women of Las Hermanas invest heavily in training and education, operating their own cupping lab to monitor all aspects of production and cup quality. Women are taught the fundamentals of cupping and processing and taste their own coffees at least three times during harvest. In doing so, they gain an understanding of how cultivation practices affect the cup, challenge themselves to improve their methods of coffee production and ultimately, earn better prices.
"These extraordinary women continue to make their mark on the world of coffee," said Doug Welsh, vice president of coffee, Peet's Coffee & Tea, Inc. "By caring for their coffee in such a meticulous way they are improving the quality of their lives and are investing back into their communities."
The women of Las Hermanas are now in their fifth year of a premium priced contract with Peet's. As a result of Peet's yearly purchases, these women have been able to secure loans and obtain additional low-interest, pre-harvest financing. Through the sale of their coffee and in partnership with their cooperative, they have also established a community pharmacy with access to lower priced medicines, and constructed more schools as well as more community libraries to support child and adult literacy.
Availability
Las Hermanas coffee is priced at $12.95 per pound and will be available for a limited time at all Peet's retail stores nationwide, online at www.peets.com and by calling 1-800-999-2132.
About Peet's Coffee & Tea, Inc.
Founded in Berkeley, Calif. in 1966, Peet's Coffee & Tea, Inc. is a specialty coffee roaster and marketer of fresh, deep-roasted whole bean coffee for home and office enjoyment. Peet's fresh-roasted coffee, hand-selected tea and related items are sold in several distribution channels including specialty grocery and gourmet food stores, online and mail order, office and restaurant accounts and company-owned stores throughout the United States. Peet's is committed to strategically growing its business and to maintaining a unique culture and focus on customer satisfaction. For information about Peet's Coffee & Tea, Inc., visit www.peets.com or call 1-800-999-2132. Peet's Coffee & Tea, Inc. shares are traded under the symbol PEET.
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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 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, risks arising from accounting adjustments; 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 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 January 1, 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.
Peet's Coffee & Tea, Inc., (PEET), is the premier specialty coffee and tea company in the United States. Peet's buys the highest quality beans in the world, artisan roasts every bean by hand to order, and delivers all of its coffee quickly for superior freshness no matter where it is sold. Founded in 1966 in Berkeley, California, by Alfred Peet, who is widely recognized as the grandfather of specialty coffee in the U.S., Peet's has a rapidly growing, passionate customer following that seeks out Peet's coffees wherever they go. Peet's is committed to strategically growing its business through many channels without compromising the extraordinary quality of its coffee. For more information about Peet's Coffee & Tea, Inc. visit www.peets.com.
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