Caribou Coffee Makes Business Changes
UNDATED (WJON News) - Caribou Coffee has entered into an agreement to move its coffee into grocery stores and restaurants.
Under the agreement, Officials say Caribou Coffee will be able to focus on their retail coffeehouse business while J-D-E Peet will sell the packaged coffee in other retail and food service channels.
J-D-E Peet will also begin supplying Caribou with the specialty-grade coffee sold in its retail operations.
John Butcher is the president and CEO of Caribou Coffee.
This transaction validates the success of multiple business platforms our team has built over the last several years, and JDE Peets has the right resources, expertise, and team to continue its growth trajectory. At the same time, the transaction will leave Caribou Coffee in a stronger position to do what we do best: provide guests with delicious products served alongside an award-winning customer experience.
Caribou Coffee started in 1992 with a single store in Edina. Since then, the company has grown to include 800 stores in 11 countries.
The agreement is expected to be finalized in the first quarter of 2024.
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