Saturday, July 12, 2014





Other bidders contest Tully's sale to Dempsey


February 20. 2013 1:29AM
Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle


02148de9ab70478cb3c7a489ef74ffcc.jpg



(AP) A company that teamed up with Starbucks Corp. to bid for the Tully's Coffee chain filed an objection Wednesday challenging the winning offer made by Grey's Anatomy star Patrick Dempsey.


AgriNurture Inc. said it's still willing to proceed with its combined bid with Starbucks of about $10.6 million. The bid from Dempsey's company, Global Baristas LLC, was for $9.2 million.


The proposed sale goes before a bankruptcy judge in Seattle on Friday.


Starbucks has said it wants to convert some of Tully's cafes to its own brand. AgriNurture, based in the Philippines, would run the rest under the Tully's name.


Cliff Burrows, who heads Starbucks' Americas business, said he's confident the company put forth the best bid with its companion bidder to give shareholders the most value.


Dempsey said he's confident the court will decide that Global Baristas submitted the highest and best bid.


AgriNurture, which also does business in the U.S. as Earthright Holdings Inc., already operates Tully's franchises in Asia.


Another bidder has also filed an objection to the sale, saying the rules changed in the middle of the auction.


Associated Press


Comments
comments powered by Disqus Commenting Guidelines
Poll
Mortgage Minute


Search for New & Used Cars

Make 
Model
 
Used New All
 

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals



Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds