Company Snapshot: Caribou Coffee Co.
3900 Lake Breeze Ave
Brooklyn Center, MN 55429
CEO, President: Michael Tattersfield
CFO: Timothy Hennessy
AL, CO, DC, GA, IL, IN, IA, KS, MD, MI, MN, MO NE, NC, ND, OH, OK, PA, SD, VA WI and 10 international markets
Based on the number of locations, Caribou is the second largest company-operated premium coffeehouse operator in the United States, second only to Starbucks. The company’s commercial segment, which sells high-quality premium whole and ground coffee to grocery stores, mass merchandisers, club stores, office coffee and foodservice providers, hotels, entertainment venues, on-line customers, accounts for around 20-25% of total revenue.
In addition to high-quality premium coffee, espresso-based beverages, and whole-bean coffee, the stores sell specialty teas, cold beverages, baked goods, sandwiches, branded merchandise and coffee lifestyle items. Same-store sales have been positively impacted by the addition of such early morning offerings as hot oatmeal and breakfast sandwiches. Caribou roasts and packages its own coffee in a processing facility at its corporate headquarters. The company won the Rainforest Alliance Corporate Green Globe Award and is committed to operating practices that promote sustainability and environmental protection.
In mid-December, Caribou Coffee announced it has agreed to be acquired by Joh. A. Benckiser, a European-based investment group that owns Coty Inc., Labelux (trading as Jimmy Choo, Bally, and Belstaff) as well as its recently acquired retailer Peet’s Coffee and Tea Inc. The agreement is subject to customary closing conditions and no projected closing date has been announced.