German firm will buy Caribou Coffee
A German private equity group will buy Caribou Coffee Co. for about $340 million, the
Minneapolis/St. Paul Business Journal reported. Caribou, which is based in a Minneapolis suburb, will continue to operate as an independent company. The Joh. A. Benckiser Group, which bought a majority stake in Peet’s Coffee & Tea Inc. this summer, is paying $16 per share in cash for Caribou, representing a premium of roughly 30 percent over the stock’s closing price of $12.32 from Friday. Read more.
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