Cooper Tea and Third Street Chai Announce Merger

BOULDER, Colo.Cooper Tea Company announced it will merge with Third Street Chai under the name DrinkWorks," and will focus on branded organic and conventional beverage concentrates. Both companies will operate independently under the DrinkWorks banner.

 This is an exciting move that positions us to offer innovative new products," said Chairman and CEO of Cooper Tea, Barry W. Cooper. Both companies are involved in the natural and organic iced tea concentrate business. With the consumer desire for greater convenience and the

societal push to reduce packaging, its a good place to be. We are in the same business, but currently have no overlap in distribution and sales channels. This merger will open up significant growth opportunities. We are poised to be a leadership force for specialty, artisan-crafted natural and organic tea concentrates, which are also innovative and earth-friendly. Our entire product portfolio is better for you and better for the planet. Its definitely a winning combination."

John Simmons, President of Third Street, concurred: Our partnership is well aligned and

straightforward - were both passionate about crafting the finest beverages with an ethical

business model. Were both nimble and innovative in responding to changing market demands and we operate from a place of fairness and integrity. We will increase efficiencies within the back-end business platforms as well as in research and development. We plan to fully utilize Third Streets organic manufacturing facilities and leverage Coopers relationship with tea suppliers worldwide. Our plan is to enable both Cooper Tea and Third Street to stay unique and remain true to their respective brand profile and positioning. Both brands have loyal fans; we dont intend to change whats clearly working."