Introduction
Have you ever wondered who owns Caribou Coffee? This beloved chain of coffee shops has come a long way since its humble beginnings in Minnesota. Today, Caribou Coffee is owned by a European company called JAB Holding Company, which also happens to be the proud owner of Panera Bread and Krispy Kreme Doughnuts. But how did Caribou Coffee end up in the hands of this conglomerate? And what does it mean for coffee lovers like yourself? Let’s delve into the fascinating history and ownership journey of Caribou Coffee.
Caribou Coffee’s Minnesota Roots
Back in 1992, Caribou Coffee was founded in Minnesota by Michael Bielinski, a former Starbucks employee. Dissatisfied with the high prices and long wait times at other coffee shops, Bielinski set out to create a company that offered top-quality coffee without breaking the bank or testing customers’ patience. The first Caribou Coffee location opened its doors on Lyndale Avenue South in Minneapolis, MN, and it didn’t take long for its popularity to soar. Today, Caribou Coffee boasts over 500 locations across 18 states, as well as in Puerto Rico and Canada, with plans for further expansion.
Joining the JAB Holding Company Family
So, how did Caribou Coffee transition from a local gem to an international player? The answer lies in its acquisition by JAB Holding Company, a European conglomerate with a taste for success. With ownership of powerhouse brands like Panera Bread and Krispy Kreme Doughnuts, JAB Holding Company knows a thing or two about the food and beverage industry. Their acquisition of Caribou Coffee in 2016 for a whopping $340 million solidified their presence in the coffee world. Today, Caribou Coffee stands tall as a part of this impressive portfolio.
Click here to get If you’re ready to start burning
A Daring Venture in North Korea
Caribou Coffee’s journey doesn’t stop at the borders of the United States. In 2017, the company made waves by opening a store in North Korea, specifically in Pyongyang, the capital city. This move marked the arrival of the first U.S.-style coffee shop in the country, making Caribou Coffee a pioneer in bridging cultures through the love of coffee. Unfortunately, this venture was short-lived due to international sanctions against North Korea related to its nuclear weapons program. Nonetheless, it showcases Caribou Coffee’s audacious spirit and commitment to exploring new territories.
A European Conglomerate with an Appetite for Success
Caribou Coffee’s journey from a small business to a thriving global brand is a testament to its dedication and quality. Being part of JAB Holding Company has opened up new possibilities and opportunities for growth. This European conglomerate, with its deep pockets and expertise, has helped Caribou Coffee reach new heights. The acquisition by JAB Holding Company came as part of a larger trend of consolidation in the food and beverage industry. With over 40 brands under its umbrella, JAB Holding Company is a force to be reckoned with.
Conclusion
Caribou Coffee, once a small business born out of a desire for better coffee experiences, is now in the hands of JAB Holding Company, a European powerhouse in the food and beverage industry. This ownership change has propelled Caribou Coffee’s growth and brought it into the international spotlight. As Caribou Coffee continues to expand and delight coffee lovers around the world, one thing is clear: the legacy of this beloved chain is in good hands. So, the next time you sip on a cup of Caribou Coffee’s rich brew, remember the journey it has taken, from its Minnesota roots to the global stage.