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Coffee chain retailer Peet’s Coffee & Tea Inc. said Monday it will buy wholesale roaster and distributor Diedrich Coffee Inc. for $213 million in a move to enter the rapidly growing single-cup coffee market. Diedrich is pearl jewelry mainly focused on the production and sale of K-Cups for Keurig Inc.’s single-cup brewing system through a license with Keurig. The deal also brings Peet’s such brands as Diedrich Coffee, Coffee People and the single-serve rights to the Gloria Jean’s coffee brand. And Peet’s will get Diedrich’s roasting and packaging facility capable of roasting and packaging unflavored and flavored coffees.

Peet’s will pay $26 per share in biwa pearl cash and stock for Diedrich, representing a nearly 28 percent premium to the stock’s Monday close of $20.36. For each Diedrich share, Peet’s will pay $17.33 in cash and a fraction of a Peet’s share valued at about $8.67.

Peet’s said it will pay for Diedrich with a akoya pearl combination of cash and $140 million in debt. The purchase, which is expected to close by the end of this year, will dilute 2010 earnings but should add to profit after that.

The European Central Bank is expected to keep its benchmark interest rate unchanged at the historic low of 1 percent Thursday — and could indicate the eurozone won’t see growth strong enough to warrant a hike for pearl jewelry quite a while.

Figures later this month are expected to show the 16 countries that use the euro joining the U.S. in leaving recession. Its two largest economies, Germany and France, officially returned to growth during the second quarter.

But the economic outlook is for biwa pearl weak growth at best, and below-target inflation for the year ahead. Figures last week showed that unemployment rose to a 10-year high of 9.7 percent in September, while consumer prices fell for the fifth consecutive month in October. Both are signs of a slack economy.

Most analysts think it will take a very strong rebound over a long period of time to make up for the output lost during the recession and stoke inflationary pressures. The akoya pearl International Monetary Fund projects that the euro area will have contracted by a massive 4.2 percent in 2009 even after growing in the third and fourth quarters of the year.

EW YORK (TheStreet) — Here’s what Jim Cramer had to say about some of the stocks that callers offered up during the “Mad Money Lightning Round” Monday evening.

Research In Motion (RIMM Quote): “I’m not going to back away from it down at this level. I think you have to buy it down here.”

Johnson Controls (JCI Quote): “The pearl jewelry great news from Ford Motor (F Quote) has got to be great news for Johnson Controls. I think you should be pulling the trigger. They’re very conservative on their guidance.”

Cramer Clearing House

Warner Chilcott (WCRX Quote): “I’m using a $30 price target for this one. I’d be buying it aggressively right here.”

Hewlett-Packard (HPQ Quote): “This stock has not come down for even a minute. This is a great company. I’d wait for it to come down a hair, then pull the biwa pearl trigger.”

Berry Petroleum (BRY Quote): “I would not back away from this one. I like it very much.”

ValueClick (VCLK Quote): “That was one of the ugliest quarters ever. As far as I’m concerned, dive, dive, dive. ”

– Written by Scott Rutt in Washington

To watch replays of Cramer’s video segments, visit the Mad Money page on CNBC.

*For all you home-gamers, a akoya pearl ‘mon-back opportunity means Cramer would back up the figurative truck and load up on a stock.

Want more Cramer? Check out Jim’s rules and commandments for investing by clicking here.

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