JDE Peet’s, the world’s leading pure-play coffee and tea company by revenue, announced the completion of the previously announced transaction under which the company has been granted a long-term global license to manufacture, market and sell Caribou consumer and foodservice coffee products, excluding Caribou coffeehouses. The transaction provides JDE Peet’s a strong platform to expand its premium coffee portfolio in the United States, the largest coffee market in the world, in which the company already sells and distributes Peet’s coffee, Stumptown, Intelligentsia and L’OR coffee.
Under the terms of the agreement, JDE Peet’s has acquired Caribou’s coffee roasting operations in Minneapolis, Minnesota. The two companies have also entered into a long-term strategic arrangement under which JDE Peet’s will supply coffee to, and coffee products for sale in, Caribou’s coffeehouses. With over 800 coffeehouses in 11 countries, Caribou has made significant progress in its retail expansion plan which is expected to substantially increase the number of coffeehouses in the United States and abroad in the coming years.
