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SO LONG CARIBOU!!! IT WAS A GREAT RIDE!!!

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JAB Beech Inc. Completes Tender Offer For All Outstanding Shares Of Caribou Coffee Company, Inc.

Jan 23, 2013 08:55:00 (ET)


MINNEAPOLIS, Jan. 23, 2013 /PRNewswire via COMTEX/ -- JAB Beech Inc. ("JAB"), a member of the Joh. A Benckiser Group, today announced the successful completion of the tender offer by its wholly-owned subsidiary, Pine Merger Sub, Inc. ("Purchaser"), for all of the outstanding shares of common stock of Caribou Coffee Company, Inc. ("Caribou") at a price of $16 per share, net to the seller in cash (less any required withholding taxes and without interest).

Wells Fargo Shareowner Services, the depositary for the tender offer, has advised JAB that, as of 12:00 midnight, New York City time, on January 22, 2013, the expiration of the tender offer, 13,554,419 shares were validly tendered and not withdrawn in the tender offer, representing approximately 63.9% of Caribou's currently outstanding shares on a fully diluted basis (including 945,361 shares delivered through Notices of Guaranteed Delivery, representing approximately 4.5% of the shares outstanding on a fully diluted basis). JAB has accepted for payment all shares validly tendered and not withdrawn and will promptly pay for such shares.

Purchaser will acquire all of the remaining outstanding shares of Caribou common stock by means of a merger under Minnesota law, which is expected to be completed on January 24, 2013. As a result of the purchase of shares in the tender offer, Purchaser has sufficient voting power to approve the merger without the affirmative vote of any other Caribou stockholder. In order to accomplish the merger as a "short-form" merger, Purchaser currently intends to exercise its "top-up" option pursuant to the merger agreement, which permits Purchaser to purchase additional shares of common stock of Caribou directly from Caribou for $16 per share (the same purchase price paid in the tender offer). Following the merger, Caribou will become a wholly-owned subsidiary of JAB, and each share of Caribou's outstanding common stock will be cancelled and converted into the right to receive the same consideration, without interest, received by holders who tendered in the tender offer. Thereafter, Caribou common stock will cease to be traded on the NASDAQ Global Select Market.

BDT Capital, a Chicago-based merchant bank that provides long-term private capital solutions to closely held companies, is a minority investor in this transaction alongside the Joh. A Benckiser Group. In addition to BDTCP's capital investment, BDT & Company served as a financial co-advisor to the Joh. A Benckiser Group with Morgan Stanley & Co. LLC. Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal advisor to the Joh. A Benckiser Group in this transaction. Moelis & Co LLC is serving as an exclusive financial advisor to Caribou in connection with this transaction and Briggs and Morgan P.A. is acting as Caribou's legal advisor.

About CaribouFounded in 1992, Caribou is one of the leading branded coffee companies in the United States, with a compelling multi-channel approach to their customers. Based on the number of coffeehouses, Caribou is the second largest company-operated premium coffeehouse operator in the United States. As of September 30, 2012, the Company had 610 coffeehouses, including 202 franchised locations, in 22 states, the District of Columbia and ten international markets. The Company's coffeehouses aspire to be the community place loved by guests who are provided an extraordinary experience that makes their day better. Caribou provides the highest quality handcrafted beverages, foods and coffee lifestyle items with a unique blend of expertise, fun and authentic human connection in a comfortable and welcoming coffeehouse environment. In addition, Caribou's unique coffees are available within grocery stores, mass merchandisers, club stores, office coffee and foodservice providers, hotels, entertainment venues and e-commerce channels. Caribou is a proud recipient of the Rainforest Alliance Corporate Green Globe Award and is committed to operating practices that promote sustainability and environmental protection. For more information, visit the Caribou web site at www.cariboucoffee.com .

About The Joh. A Benckiser GroupThe Joh. A Benckiser Group is a privately held group of affiliated companies focused on long term investments in companies with premium brands in the Fast Moving Consumer Goods category. The Joh. A Benckiser Group's portfolio includes a majority stake in Coty Inc., a global leader in beauty, a majority stake in Peet's Coffee & Tea Inc., a premier specialty coffee and tea company, a minority stake in Reckitt Benckiser Group PLC, a global leader in health, hygiene and home products and a minority investment in D.E Master Blenders 1753 N.V., an international coffee and tea company. The Joh. A Benckiser Group also owns Labelux, a luxury leather goods company with brands such as Jimmy Choo, Bally and Belstaff. The assets of the group are overseen by its three senior partners, Peter Harf, Bart Becht and Olivier Goudet.

About BDT Capital Partners BDT Capital Partners provides family-owned and entrepreneurially led companies with long-term capital, solutions-based advice and access to an extensive network of world-class family businesses. Based in Chicago, BDT Capital Partners is a merchant bank structured to provide advice and capital that address the unique needs of closely held businesses. The firm has a $3 billion investment fund as well as an investor base with the ability to co-invest significant additional capital. Through its advisory business, BDT & Company works with family businesses to pursue their long-term strategic and financial objectives.

Forward-Looking StatementsThis press release contains forward-looking statements that are not historical facts and are subject to risks and uncertainties that could cause actual results to differ materially from those described. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Forward-looking statements in this communication include statements regarding the anticipated benefits of the transaction; statements regarding the expected timing of the completion of the transaction; and any statements of assumptions underlying any of the foregoing. All forward-looking statements are based largely on current expectations and beliefs concerning future events, approvals and transactions that are subject to substantial risks and uncertainties. Factors that may cause or contribute to the actual results or outcomes being different from those expressed or implied in the forward-looking statements include are discussed in the Company's filings with the SEC, including in its periodic reports filed on Form 10-K and Form 10-Q with the SEC. Copies of the Company's filings with the SEC may be obtained at the "Investors" section of the Company's website at www.cariboucoffee.com . The forward-looking statements made in this communication are made only as of the date of this communication, and the Company undertakes no obligation to update them to reflect subsequent events or circumstances.

SOURCE JAB Beech Inc.

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Caribou Coffee Rings in the New Year with Two Flavorful New Coffee Offerings

9:00 AM ET 1/22/13 | PR Newswire

As fans everywhere welcome the new year, Caribou Coffee Company, Inc. (NASDAQ: CBOU) is excited to celebrate 2013 with the launch of two new whole bean coffees: Colombia Cosecha de Oro and Traveler's Roast. These delicious new light and medium roasts, respectively, were designed to help fans enjoy more tastes from the large spectrum of flavors that they offer while delivering Caribou's signature premium coffee experience.

(Photo: http://photos.prnewswire.com/prnh/20130122/NY45263 )

The launch of these new coffees comes on the heels of an exciting 2012 for Caribou Coffee - a year that brought growth and the coffeehouse's 20th anniversary celebration. Caribou's new Colombia Cosecha de Oro and Traveler's Roast coffees will join Caribou's extensive coffee line-up - 20 choices - which offers a broad range of coffees - light, dark and medium roasts - to provide customers with a wide range of coffee experiences and tastes.

-- Colombia Cosecha de Oro: We listened to fan feedback on our Colombia coffee offering and are excited to introduce this refined option to satisfy guests looking for a lighter roast. Cosecha de Oro means "golden harvest" in Spanish, and this flavorful coffee also features caramel notes along with hints of subtle vanilla and sweet fruit flavors.

-- Traveler's Roast: A medium-bodied blend, Traveler's Roast is juicy and complex with a silky, smooth finish. Fans will love this choice for its dark chocolate qualities and "syrup-like" body.

Like all Caribou coffees and espresso, both coffees are Rainforest Alliance Certified(TM), a certification that ensures that farmers, as well as their families and greater communities, receive decent wages, access to education and medical care, and that beans are harvested responsibly to protect the environment. The Rainforest Alliance certification is one of the most comprehensive certifications of its kind, ensuring that coffee drinkers can "sip responsibly" with sustainable coffee that supports a more sustainable planet.

"Product innovation has been a priority for Caribou Coffee since day one, and continuing to surprise our fans with new coffees that offer a range of flavor profiles is something we pride ourselves on," said Alfredo Martel, senior vice president of marketing and product management, "Our team travels around the world in search of the very best beans and exciting new tastes, so we're thrilled to be bringing these latest options to the Caribou community, especially knowing that they are sourced in a way that provides support for farming communities, while also protecting the planet."

The new Colombia Cosecha de Oro and Traveler's Roast blend launched yesterday, Monday, January 21, 2013, and are available for purchase in stores and online. They are permanent additions to the Caribou portfolio.

For more information about Caribou Coffee, please visit Caribou Coffee's Facebook page at www.facebook.com/cariboucoffee or follow Caribou on Twitter at @Caribou_Coffee.

About Caribou Coffee Founded in 1992, Caribou Coffee Company is one of the leading branded coffee companies in the United States, with a compelling multi-channel approach to their customers. Based on the number of coffeehouses, Caribou Coffee is the second largest company-operated premium coffeehouse operator in the United States. As of September 30, 2012, the Company had 610 coffeehouses, including 202 franchised locations, in 22 states, the District of Columbia and ten international markets. The Company's coffeehouses aspire to be the community place loved by guests who are provided an extraordinary experience that makes their day better. Caribou Coffee provides the highest quality handcrafted beverages, foods and coffee lifestyle items with a unique blend of expertise, fun and authentic human connection in a comfortable and welcoming coffeehouse environment. In addition, Caribou Coffee's unique coffees are available within grocery stores, mass merchandisers, club stores, office coffee and foodservice providers, hotels, entertainment venues and e-commerce channels. Caribou Coffee is a proud recipient of the Rainforest Alliance Corporate Green Globe Award and is committed to operating practices that promote sustainability and environmental protection. For more information, visit the Caribou Coffee web site at www.cariboucoffee.com.

CONTACT: Blythe PosnerRuder Finn, Inc.(212) [e-mail]

SOURCE Caribou Coffee Company

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Law Office of Brodsky & Smith, LLC Announces Investigation of Caribou Coffee Company, Inc.

9:00 PM ET 12/19/12 | PR Newswire

Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Caribou Coffee Company, Inc. ("Caribou Coffee" or the "Company") (Nasdaq- CBOU) relating to the proposed acquisition by Joh. A. Benckiser ("JAB").

Under the terms of the transaction, Caribou Coffee shareholders will receive only $16.00 in cash for each share of Caribou Coffee stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Caribou Coffee for not acting in the Company's shareholders' best interests in connection with the sale process to JAB. The transaction may undervalue the Company and will result in a loss for many shareholders. For example Caribou Coffee stock traded at $16.74 as recently as May 1, 2012 and $18.64 on March 30, 2012. In addition, Caribou Coffee is currently trading above the offer price and an analyst has set a price target for Caribou Coffee at $20.00 per share.

If you own shares of Caribou Coffee stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at [e-mail] visiting http://brodsky-smith.com/519-cbou-caribou-coffee-company-inc.html, by calling toll free 877-LEGAL-90.

SOURCE Brodsky & Smith, LLC

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An Open Letter to the Board of Directors of Caribou Coffee Company

Dec 20, 2012 08:30:55 (ET)


NEW HAVEN, CT, Dec 20, 2012 (MARKETWIRE via COMTEX) -- The following is a statement from Accretive Capital Partners' Founder & Managing Partner, Richard Fearon.

December 20, 2012

Board of Directors Caribou Coffee Company, Inc. Attn: Mr. Gary Graves, Chairman 3900 Lakebreeze Avenue North Minneapolis, MN 55429

Dear Ladies and Gentleman of the Caribou Board:

As significant and supportive shareholders of Caribou Coffee Company for over five years, we at Accretive Capital Partners find ourselves utterly dismayed by the price you have accepted from Joh. A. Benckiser to sell our company.

Accretive Capital Partners, LLC and its affiliates are beneficial owners of more than 850,000 shares of Caribou Coffee stock and have stood by the company for more than five years while waiting patiently for a turn-around to materialize and for strategies for improving average unit volume and accelerating unit growth to evolve. And now, here we are with newly installed TurboChef ovens, a strategy to introduce new and exciting beverages and hot food products, and a plan to grow the store count by 10-12% annually, only to have the company handed to a new owner at a fraction of its intrinsic value.

At $16 per share, the price you have accepted from Benckiser on our behalf is only 0.9 times annual sales and less than 11 times trailing earnings before interest, taxes, depreciation and amortization (EBITDA). Compare these metrics to the price just paid by Benckiser for Peet's Coffee less than two months ago: Peet's shareholders received 2.4 times sales and 21 times EBITDA. Moreover, Starbucks' shareholders receive 3 times sales and 16 times EBITDA for their shares in a highly efficient public market. As measured by these real-time metrics, Caribou Coffee is worth $30-$35 per share, especially considering the control premium a strategic buyer must pay to enjoy operational synergies.

Combine these facts with the growth potential at Caribou Coffee: Average unit volume (AUV) runs around $600,000 per store and new-store openings were an anemic eight stores last year. The company's goal is to increase AUV to $1 million, an amount achieved by Starbucks and others, and to accelerate unit growth to 20 stores this year and by 10-12% thereafter. The substantial benefits of these two significant financial drivers of growth are imminent, and yet the board has elected to sell the business off at a multiple of historical sales less than half of what Benckiser just paid for Peet's Coffee.

We are baffled by the board's and management's decision to sell the company now and to do so without the benefit of engaging a qualified investment banker, who would market the company and manage an efficient auction process. Surely it would be in shareholders' best interests to determine if other major strategic buyers -- such as Starbucks, Green Mountain, Dunkin' Brands, Krispy Kreme -- had any interest in acquiring Caribou Coffee. One can only guess what kind of incentives Benckiser offered to our management team to consummate this deal.

We believe we are not alone among other significant shareholders in deeming our company, Caribou Coffee, to be worth substantially more than the price you have accepted on our behalf. We encourage you to pursue available alternatives to consummating this transaction with Benckiser and remind you of your fiduciary duties to shareholders: As custodians of our investment, you are charged with a duty to place shareholder interests above personal gain or other motives. And, with our proposal for a fair and open auction process, we demand only that you do the right and honorable thing on behalf of all Caribou Coffee Company shareholders.

Sincerely,

Richard E. Fearon, Jr. Managing Partner


Accretive Capital Partners
16 Wall Street, 2nd Floor
Madison, Connecticut 06443
tel [phone]
fax [phone]
[e-mail]




SOURCE: Accretive Capital Partners, LLC


mailto:[e-mail]

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Caribou Coffee crunch

By MarketWatch
Dec 17, 2012 15:18:01 (ET)


SAN FRANCISCO (MarketWatch) - Let's face it. Despite heartfelt dedication to customers, community and planet Earth, coffee houses have become a really big business under heavy pressure to compete through consolidation.

On Monday Joh. A. Benckiser Group, a German holding company controlled by the Reimann clan, announced it is buying Caribou Coffee Co. for $340 million, or $16 a share. That's a whopping 30% premium to Caribou's closing price Friday.

This is the second time JAB has taken a publicly traded coffee house chain back into private hands. The first was five months ago, when it bought Peet's Coffee & Tea for $1 billion. Read about just how hot the U.S. coffee market is.

While Peet's, a pioneer in the premium coffee house business, has legendary status among aficionados, it lacked outlets. Caribou Coffee takes care of that. The Minneapolis-based chain has 610 stores in 22 states and gives JAB a much bigger distribution footprint.

Caribou said JAB intends to operate it as an independent brand. Maybe. But it's a safe bet JAB will used the combined clout of Peet's and Caribou to swing better deals when buying beans in the commodities market.

While JAB has quickly built a major presence in the sector, it is still dwarfed by Starbucks Corp. Starbucks has over 20,000 stores in 61 countries, 13,000 of them here in the United States. Given its vast, multi-billion-dollar global empire, it's no wonder others want a piece of it.

Unfortunately for those looking to invest in the next takeover candidate, there aren't a lot of publicly-traded coffee houses. Tim Hortons Inc. is the only high-profile candidate out there, but the Canadian company is more of a casual restaurant chain along the lines of Dunkin' Donuts rather than a "pure play" coffee house.

Given the modest price move by Tim Hortons shares Monday, it doesn't look like anyone thinks it might be in play. Dunkin' shares actually did better, up 3%.

There are several big, privately owned coffee houses, however, whose owners could reap big paydays from further consolidation of the industry. Three names that come to mind: The Coffee Beanery and Biggby Coffee, both based in Michigan, and Oregon-based Dutch Bros. Coffee, which claims to be the biggest drive-through coffee chain in the country.

It's precisely this lack of publicly traded entry points to the coffee business that keeps upstarts such as Green Mountain Coffee Roasters Inc. on investors' radars. A volatile stock? Absolutely. But for lack of options, it is one of the few openings into a huge, robust industry that often seems shut to all but the biggest players.

-- Jim Jelter

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Caribou Coffee to be acquired by Joh. A. Benckiser for $16.00 per share in cash (halted); Joh. A. Benckiser also owns a majority stake in Peet's Coffee & Tea

9:00 AM ET 12/17/12 | Briefing.com

Co announced a definitive merger agreement under which an affiliate of Joh. A. Benckiser (JAB) will acquire Caribou for $16.00 per share in cash, or a total of approximately $340 million. The agreement, which has been unanimously approved by Caribou's independent directors, represents a premium of approximately 30% over Caribou's closing stock price on December 14, 2012, the last trading day prior to the announcement of the transaction. At the close of the transaction, Caribou will continue to be operated as an independent company with its own brand, management team and growth strategy. Caribou will remain based in Minneapolis, Minnesota. The tender offer is not subject to a financing condition. Joh. A. Benckiser and affiliated companies is a privately held group focused on long term investments in companies with premium brands in the Fast Moving Consumer Goods category. The Joh. A. Benckiser-group's portfolio includes a majority stake in Peet's Coffee & Tea Inc.

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Caribou Enters into Merger Agreement to be Acquired by Joh. A. Benckiser for $16.00 Per Share in Cash

9:00 AM ET 12/17/12 | BusinessWire

Caribou Coffee Company, Inc. (NASDAQ: CBOU), the second-largest company-owned premium coffeehouse operator in the United States based on the number of coffeehouses, and the Joh. A. Benckiser Group (JAB) announced a definitive merger agreement under which an affiliate of JAB will acquire Caribou for $16.00 per share in cash, or a total of approximately $340 million. The agreement, which has been unanimously approved by Caribou's independent directors, represents a premium of approximately 30 percent over Caribou's closing stock price on December 14, 2012, the last trading day prior to the announcement of the transaction.

At the close of the transaction, Caribou will continue to be operated as an independent company with its own brand, management team and growth strategy. Caribou will remain based in Minneapolis, Minnesota.

"Caribou Coffee is a great company, with dedicated people, world-class customer service, exceptionally high quality coffeehouse beverages and food and a state-of-the-art roasting facility. The employees of Caribou should feel very proud of all they've been able to accomplish over the years, and I look forward to continued success in Caribou's future," said Gary Graves, Non-Executive Chairman of Caribou.

"We anticipate the next chapter in Caribou's journey will be filled with tremendous opportunities to grow this great brand, with new ownership," said Michael Tattersfield, President and Chief Executive Officer of Caribou.

"Caribou has a fantastic brand and unique culture, and fits perfectly with JAB's investment philosophy of investing in premium and unique brands in attractive growth categories like coffee," said Bart Becht, Chairman of Joh. A. Benckiser Group. "JAB is committed to investing in Caribou as a standalone business out of Minneapolis to ensure the Company continues its current highly successful track record."

Under the terms of the merger agreement, an affiliate of JAB will promptly commence a tender offer to acquire all of the outstanding shares of Caribou's common stock at a price of $16.00 per share in cash. Following successful completion of the tender offer, JAB will acquire all remaining shares not tendered in the offer through a second-step merger at the same price as in the tender offer.

The consummation of the tender offer is subject to various conditions, including a minimum tender of at least a majority of outstanding Caribou shares on a fully diluted basis, the expiration or termination of the waiting periods under applicable competition laws, and other customary conditions. The tender offer is not subject to a financing condition.

BDT Capital Partners, a Chicago-based merchant bank that provides long-term private capital solutions to closely held companies, is a minority investor in this transaction alongside JAB. In addition to BDTCP's capital investment, BDT & Company served as a financial co-advisor to JAB with Morgan Stanley & Co. LLC. Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal advisor to JAB in this transaction. Moelis & Co LLC is serving as exclusive financial advisor to Caribou in connection with this transaction and Briggs and Morgan P.A. is acting as Caribou's legal advisor.

About Caribou

Founded in 1992, Caribou is one of the leading branded coffee companies in the United States, with a compelling multi-channel approach to their customers. Based on the number of coffeehouses, Caribou is the second largest company-operated premium coffeehouse operator in the United States. As of September 30, 2012, the Company had 610 coffeehouses, including 202 franchised locations, in 22 states, the District of Columbia and ten international markets. The Company's coffeehouses aspire to be the community place loved by guests who are provided an extraordinary experience that makes their day better. Caribou provides the highest quality handcrafted beverages, foods and coffee lifestyle items with a unique blend of expertise, fun and authentic human connection in a comfortable and welcoming coffeehouse environment. In addition, Caribou's unique coffees are available within grocery stores, mass merchandisers, club stores, office coffee and foodservice providers, hotels, entertainment venues and e-commerce channels. Caribou is a proud recipient of the Rainforest Alliance Corporate Green Globe Award and is committed to operating practices that promote sustainability and environmental protection. For more information, visit the Caribou web site at www.cariboucoffee.com.

About Joh. A. Benckiser

Joh. A. Benckiser and affiliated companies is a privately held group focused on long term investments in companies with premium brands in the Fast Moving Consumer Goods category. The Joh. A. Benckiser-group's portfolio includes a majority stake in Coty Inc., a global leader in beauty, a majority stake in Peet's Coffee & Tea Inc., a premier specialty coffee and tea company, a minority stake in Reckitt Benckiser Group PLC, a global leader in health, hygiene and home products and a minority investment in D.E Master Blenders 1753 N.V., an international coffee and tea company. JAB also owns Labelux, a luxury leather goods company with brands such as Jimmy Choo, Bally and Belstaff. The assets of the group are overseen by its three senior partners, Peter Harf, Bart Becht and Olivier Goudet.

About BDT Capital Partners

BDT Capital Partners provides family-owned and entrepreneurially led companies with long-term capital, solutions-based advice and access to an extensive network of world-class family businesses. Based in Chicago, BDT Capital Partners is a merchant bank structured to provide advice and capital that address the unique needs of closely held businesses. The firm has a $3 billion investment fund as well as an investor base with the ability to co-invest significant additional capital. Through its advisory business, BDT & Company works with family businesses to pursue their long-term strategic and financial objectives.

Additional Information and Where to Find It

The tender offer described in this document has not yet commenced. This announcement is neither an offer to purchase nor a solicitation of an offer to sell shares of Caribou. At the time the offer is commenced, an affiliate of JAB will file a Tender Offer Statement on Schedule TO with the U.S. Securities and Exchange Commission, and Caribou will file a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the offer. Caribou stockholders and other investors are urged to read the tender offer materials (including an Offer to Purchase, a related Letter of Transmittal and certain other offer documents) and the Solicitation/Recommendation Statement because they will contain important information which should be read carefully before any decision is made with respect to the tender offer. The Offer to Purchase, the related Letter of Transmittal and certain other offer documents, as well as the Solicitation/Recommendation Statement, will be made available to all stockholders of Caribou at no expense to them. The Tender Offer Statement and the Solicitation/Recommendation Statement will be made available for free at the Commission's web site at www.sec.gov. Free copies of these materials and certain other offering documents will be made available by the information agent for the offer.

In addition to the Solicitation/Recommendation Statement, Caribou files annual, quarterly and special reports, proxy statements and other information with the Securities and Exchange Commission. You may read and copy any reports, statements or other information filed by Caribou at the SEC public reference room at 100 F Street, N.E., Washington, D.C. 20549. Please call the Commission at 1-800-SEC-0330 for further information on the public reference room. Caribou's filings with the Commission are also available to the public from commercial document-retrieval services and at the website maintained by the Commission at www.sec.gov.

http://cts.businesswire.com/ct/CT?id=bwnews&sty=20121217005633r1&sid=cmtx4&distro=nx

SOURCE: Caribou Coffee Company, Inc.

View data
Media Contacts:
For Caribou:
Ruder Finn, Inc.
Blythe Posner, 212-593-6306
[e-mail]
or
For JAB:
Abernathy MacGregor Group
Tom Johnson, 212-371-5999
[e-mail]
Chuck Burgess, 212-371-5999
[e-mail]
or
For BDT Capital Partners:
Jennifer Dunne, 312-660-7314
[e-mail]
or
Investor Contact:
Raphael Gross, 203-682-8253
[e-mail]

Media Contacts: For Caribou: Ruder Finn, Inc. Blythe Posner, 212-593-6306 [e-mail] or For JAB: Abernathy MacGregor Group Tom Johnson, 212-371-5999 [e-mail] Chuck Burgess, 212-371-5999 [e-mail] or For BDT Capital Partners: Jennifer Dunne, 312-660-7314 [e-mail] or Investor Contact: Raphael Gross, 203-682-8253 [e-mail]

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Caribou Coffee to Go Private in $340 Million Deal With Joh. A. Benckiser

9:28 AM ET 12/17/12 | Dow Jones
By Melodie Warner

Caribou Coffee Co. (CBOU) agreed to be taken private in a roughly $340 million deal with the German investment group Joh. A. Benckiser.

Joh. A. Benckiser is the investment vehicle for Germany's Reimann family, which, among other holdings, owns perfume maker Coty Inc. JAB bought Peet's Coffee & Tea Inc. in October for roughly $1 billion and also owns a large stake in Reckitt Benckiser Group PLC (RB.LN, RBGPY), a household-products powerhouse whose brands include Lysol, Woolite and French's mustard.

Caribou said JAB agreed to pay $16 a share in cash, a 30% premium to its Friday close. Shares were halted premarket and the stock has fallen 12% since the start of the year.

BDT Capital Partners, a Chicago-based merchant bank, is also a minority investor in this transaction, alongside JAB.

Caribou will remain based in Minneapolis, Minn.

The premium coffeehouse operator reported last month its third-quarter profit fell 3.6% as lower commercial sales contributed to its 5.2% revenue decline.

Write to Melodie Warner at [e-mail]

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> Dow Jones Newswires

December 17, 2012 09:28 ET (14:28 GMT)

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