Bill Tointon, founder and president of Denver-based Peaberry Coffee Inc., announced today the planned transfer of leases for 11 of the company's 28 store locations to Starbucks Coffee Company as part of Peaberry Coffee's ongoing strategic restructuring. Terms of the deal were not disclosed.


"With this step of our strategic restructuring plan complete, we are able to focus even more of our energy on supporting and building the franchise program and on what made us famous in the beginning - our beans," said Tointon. "Another exciting part of our strategic restructuring is the recent launch of E-Beans, a convenient way for our customers to purchase high-quality, locally roasted beans online. The program is up and running at www.peaberrycoffee.com."

As part of the transfer agreement, Peaberry Coffee will begin closing specified stores this week.


"We appreciate our customers' and our staff's patience and support during the restructuring process," said Tointon. "It's our people and our beans that made us famous in the beginning and this strategic restructuring allows us to focus even more of our energy on that. We look forward to continuing that tradition - in our Front Range locations, at major area grocery stores and online at www.peaberrycoffee.com ."