JDE Peet’s has signed a long-term global licence agreement to manufacture, market and sell Caribou consumer and foodservice coffee products, excluding Caribou coffeehouses.
“We are delighted with this partnership, which adds Caribou to our existing portfolio of premium brands which we distribute, including Peet’s, Stumptown, Intelligentsia and L’OR, to serve more coffee lovers in North America,” says JDE Peet’s CEO Fabien Simon.
The transaction, which will have JDE Peet’s acquire Caribou’s roasting operations in Minneapolis, Minnesota, is expected to close during the first quarter of 2024.
“Caribou is an iconic brand with outstanding facilities and we will complement its strong brand equity with JDE Peet’s’ distribution and innovation capabilities to strengthen our presence and serve more coffee lovers in the largest coffee market in the world,” says Simon.
The companies have also reached a long-term strategic arrangement under which JDE Peet’s will supply coffee products for sale in Caribou’s coffeehouses.
“We wholeheartedly welcome a new team of talented employees to the JDE Peet’s family and look forward to integrating their expertise and insights into our operations,” Simon says.
“We will work closely with the Caribou team on the ongoing development of Caribou-branded products, as Caribou continues to expand its operations in the United States and abroad.”
