Green Mountain Boys Buy Tully's Coffee

The important thing is that the big green T will stay by I-5 for your viewing pleasure. And your local Tully's shouldn't be closing. What's happened is that Tully's has sold its brand, wholesale business, and supply chain to Vermont's Green Mountain Coffee Roasters for about $40 million. They're keeping the retail side (and international biz). Tully's needed cash, since their IPO plans foundered back in February on the shoals of our current recession. The sale will pay off $8.6 million in debt, which was otherwise probably not going anywhere--Tully's has recorded a profit just once in its history.