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JDE Peet’s Takes Over Roasting Operations From Caribou Coffee

In a long-term global license agreement valued at $260 million, Caribou will build its retail coffeehouse business while JDE Peet’s develops CPG and foodservice channels.

Caribou Coffee
Caribou Coffee

JDE Peet’s and Caribou Coffee announced today that they have signed a long-term global license agreement for JDE Peet’s to license the Caribou brand in its consumer packaged goods (CPG) and foodservice channels. The transaction, valued at $260 million and expected to close this quarter, also transfers Caribou Coffee’s roasting operations in Minneapolis to JDE Peet’s and its office coffee and foodservice contracts.

JDE Peet’s was formed in 2015 when Jacobs Douwe Egberts, part of Mondelēz International’s coffee division, merged with Peet’s Coffee. Caribou Coffee, based in Brooklyn Center, Minn., was founded in 1992 and now has more than 800 coffeehouses in 11 countries. Both companies are owned by JAB Holding.

The two companies have also reached a long-term strategic arrangement under which JDE Peet’s will supply coffee products for sale in Caribou’s coffeehouses. Caribou has expanded its retail outlets through company-owned development as well as a franchise program that should double domestic coffeehouses in the coming years. Through an expanded development agreement with current franchisees, Caribou also expects a similar development internationally.

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