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Caribou Coffee to be acquired by Joh. A. Benckiser |
12.21.2012
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Caribou Coffee Company, Inc., the second-largest company-owned premium coffeehouse operator in the U.S. by number of coffeehouses, and the Joh. A. Benckiser Group (JAB) on Mon., Dec. 17, announced a definitive merger agreement under which an affiliate of JAB will acquire Caribou for $16.00 per share in cash, or a total of approximately $340 million.
The JAB group also acquired a majority stake in Peet's Coffee & Tea in October.
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Caribou will remain based in Minneapolis, and continue to run as an independent company with its own brand, management team and growth strategy.
Besides Peet's and a minority investment in international coffee and tea company D.E Master Blenders 1753 N.V., JAB's portfolio includes a majority stake in beauty company Coty Inc., and a minority stake in Reckitt Benckiser Group PLC. JAB also owns Labelux, a luxury leather goods company with brands such as Jimmy Choo, Bally and Belstaff.
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