DTS8 Coffee Company has announced that it has executed a Letter of Intent to acquire a wholesale coffee roaster on the East Coast of the United States. The acquisition requires DTS8 to acquire 100 per cent of the target company’s outstanding shares, complete a due diligence investigation and receive audited financial statements. “Upon completion of the proposed acquisition, DTS8 will be one of the first US-based coffee companies with roasting facilities in both the US and China,” said Douglas Thomas, CEO of DTS8. “This planned acquisition will add significant strength to our existing business.” DTS8 Coffee Company currently operated a sales office from Shanghai and a roasting facility in Huzhou, China. In May the company relocated its corporate head office from Shanghai, China to Vancouver, Canada, stating the perceived risk of doing business exclusively in China as reason for the move.
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