Caribou Coffee shops are closing by the scores throughout the country, while many are reportedly converting to Peets Coffee & Teas locations. Minnesota-based Caribou has not made any announcements related to the mass closings, news of which has been surfacing through Facebook posts, local news reports, tweets, signs on windows and other localized reports.
The most authoritative report from any Caribou representative has been a reply to a Facebook post from a surprised customer in Iowa. The Caribou representative said:
Hi Rikki, retail locations in Iowa will remain operating, as well as retail locations in Minnesota, North Dakota, South Dakota, Western Wisconsin, North Carolina, Kansas and Denver. Closing stores outside of these areas was a tough decision. However, we’re excited to be able to renew our efforts in these markets. Please contact 888.CARIBOU with further questions – thank you for reaching out to us.
A an anonymous company source told a Patch reporter in Plymouth, Mich., that some 160 stores will be closed or rebranded as Peet’s locations nationwide. Caribou was acquired by the German investment firm Joh. A. Benckiser Group (JAB) for approximately $340 million last December. The group also holds primary ownership in Peet’s.
This is the second major piece of negative news surrounding the Caribou brand since the acquisition. Last month, word spread that a potential partnership that would have added Caribou stores to revamped J.C. Penny locations had fizzled.