Competitor News

Caribou Coffee is being co-branded with Einstein Bros. Bagles beginning with the opening of a new co-branded store in Colorado Springs on Wednesday.  Both entities are owned by private-equity firm Joh. A. Benckiser Group.  The German conglomerate plans to open 20 of the newly co-branded stores this year split with half being conversions and the…

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California, Here We Come…

California’s great gold rush started in 1848. By 1855, some 300,000 came to the Golden State, hoping to strike it rich. Now, 159 years later, there is a new rush going on—this one for a share of the state’s giant coffee market. California is the nation’s most populated state—one out of eight people living in…

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Caribou confirms: 80 stores closing, 88 becoming Peet’s

According to the Minneapolis/St. Paul Business Journal, Caribou Coffee Co. Inc. will close 80 stores nationwide and rebrand another 88 under the banner of its corporate cousin, Peet’s Coffee & Tea, in a restructuring that will cut the chain’s footprint by more than 25 percent. News of the closings filtered out throughout the weekend, as employees posted signs…

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Peet’s Ups Bid as it Duels Green Mountain for Diedrich Coffee

USA Today reports that coffee chain retailer Peet’s Coffee & Tea said Monday it has raised its offer for the wholesale roaster and distributor Diedrich Coffee about 24% to $265 million. Peet’s (PEET) said Monday its revised proposal is valued at $32 a share, up from the $26 a share, or $213 million, proposed in November. It includes stock and cash.

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Peet’s Coffee to Buy Diedrich Coffee for $213M

Steven E.F. Brown reports in the San Francisco Business Times that Peet’s Coffee & Tea Co plans to buy Diedrich Coffee Inc. for $213M in cash and stock. Emeryville-based Peet’s (NASDAQ: PEET) will pay $26 per share for Irvine-based Diedrich, which has about 150 workers. Diedrich’s brands include Gloria Jean’s, Black Tiger and Flor de Apanas.

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