Minneapolis-based Caribou Coffee announced a definitive merger agreement under which an affiliate of Joh. A. Benckiser Group (JAB), Ludwigshafen, Germany, will acquire Caribou Coffee for $16 per share in cash, or a total of approximately $340 million. The agreement, which was unanimously approved by Caribou Coffee’s independent directors, represents a premium of approximately 30 percent over Caribou Coffee’s closing stock price Dec. 14, the last trading day prior to the announcement of the transaction.
Caribou Coffee, Minneapolis, announced that all coffee and espresso varieties available in its stores, online and at retail are now sourced from Rainforest Alliance-certified farms.
In coordination with Breast Cancer Awareness Month, Caribou Coffee launched Cup with Purpose, a new coffee blend developed exclusively for the foodservice industry benefiting the Susan G. Komen Foundation.