2010s
In December 2012, the company was taken private in a $340 million deal by German equity company JAB Holding Company.[15][16] Following the merger, it was stated that Caribou Coffee would continue to be operated as an independent company with its own brand, management team and growth strategy, and that Caribou would continue to be based in Minneapolis.[17] In May 2013, Caribou Coffee announced plans to close 80 stores in Ohio, Michigan, Pennsylvania, Washington D.C., Maryland, Virginia, Georgia, Illinois and Eastern Wisconsin, with 88 others in those locations to be converted to Peet's Coffee & Tea during 2013–2014. Caribou locations would remain open in California, Colorado, Georgia, Iowa, Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri, North Carolina, North Dakota, Nebraska, Ohio, Oklahoma, South Dakota, Virginia, Wisconsin, Wyoming, and ten international markets.[18][19]
In 2019, John Butcher replaced Sarah Spiegel as CEO.[20] On August 5, 2021, Caribou announced that it had merged with Panera Bread and Einstein Bros. Bagels to form Panera Brands.[21][22] After four years in private hands, on November 8, 2021, Panera Brands filed paperwork for an initial public offering of stock.[23]
Caribou Coffee has 282 franchised outlets across nine international markets, including Bahrain, Egypt, Kuwait, Morocco, Oman, Qatar, Saudi Arabia, Turkey, United Arab Emirates and the Bosnia and Herzegovina.[24][25]
On December 20, 2018, the company notified its customers of a potential data breach that they discovered in late November of that year. The breach also affected other companies owned by JAB Holding Company, namely Bruegger's and Einstein Bros. Bagels, and included the release of credit card numbers and CVV codes.[26][27]
