This excerpt taken from the GMCR 10-K filed Dec 11, 2008.
Our proposed acquisition of the Tullys coffee brand from Tullys Coffee Corporation may fail to close or there could be substantial delays before the acquisition is completed.
On September 15, 2008, we entered into an asset purchase agreement with Tullys Coffee Corporation to acquire the Tullys coffee brand and the Tullys wholesale business for a total purchase price of $40.3 million, subject to adjustment at closing. The Company will finance the cash purchase through its existing $225 million senior revolving credit facility and has received the required bank consent. This transaction is subject to customary
closing conditions including approval of the Tullys shareholders, and is expected to close in the next few months. If we are unable to complete the acquisition, we will not be able to realize the anticipated benefits of the acquisition and would have devoted substantial resources and management attention without realizing any accompanying benefit.