Caribou Coffee is getting a jolt in new development after a sweep of store closures 18 months ago. The Brooklyn Center-based company has opened 16 stores since the closings, with a majority of new stores opening in Minnesota.
So far, 13 opened in Minnesota, two in Iowa and one in Colorado, MinnPost and Twin Cities Business report. Other openings are on the way across the country.
In August 2013, Caribou announced it was closing 80 stores nationwide and 88 other locations would be converted into Peet's Coffee and Tea.
Joh. A. Benckiser, a German private equity group, bought Caribou for about $340 million in December 2012, just months after acquiring Peet’s Coffee and Tea for $1 billion. The company bought the Einstein Noah Restaurant Group this fall, which includes Einstein Brothers Bagels for about $374 million. In 2013, Caribou also opened a handful of integrated Bruegger's Bagels locations.
The new kid on the block that will compete with Caribou is Dunkin’ Donuts, which plans to open 50 locations across the state in the next few years. The first one in Rochester is already open for business and plans are in the works for the Duluth location.