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Diedrich Drops Bid

ORANGE COUNTY BRIEFLY

February 28, 1997

IRVINE — Diedrich Coffee Inc. said Thursday it terminated its bid to acquire Pannikin Coffee & Tea of San Diego, because it was unable to reach final agreement in remaining negotiations.

The Irvine coffeehouse chain had announced plans earlier this month to pay $2.8 million for Pannikin, which operates six coffeehouses in San Diego County and has a roasting factory.

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