Who Owns Caribou Coffee?
Caribou Coffee is a United States based coffeehouse chain that was founded in 1992. Since its inception, Caribou Coffee’s mission has been “to make a difference in people’s lives one cup, one neighborhood at a time”.
Ownership History
Caribou Coffee’s ownership has changed hands a few times in its history:
- 1992 – 2000: Caribou was founded in 1992 by brothers John and Kim Puckett and initially operated as “Units to Imbibe, Inc.” The Pucketts sold Caribou to Scandinavian-based corporation Kaffehuset Friele AS in 2000.
- 2006 – 2012: Kaffehuset Friele AS sold Caribou to the German investment firm Joh. A. Benckiser GmbH (JAB) in 2006. JAB poured money into Caribou’s growth and expansion and grew the chain to 480 stores in 28 states.
- 2012 – present: In 2012, JAB sold Caribou to U.S.-based company, The Riverside Company. The Riverside Company then sold its stake to an affiliate of the parent of Panera Bread in 2013.
In December of 2019, Panera’s parent, JAB Holding Company announced that they would be taking control of Caribou Coffee as well as Peet’s Coffee. With this move, JAB Holding Company replicated the multibrand strategy model that has been so successful for Panera Bread and its other holdings.
Conclusion
Today, Caribou Coffee is owned by JAB Holding Company, the same parent company responsible for Peet’s Coffee and Panera Bread. This move allows JAB to replicate their multibrand strategy and consolidate Caribou Coffee’s success with the success of its other coffee chains.
