German tycoon buys famous coffee brand Caribou Coffee for 340 million US dollars

Caribou Coffee (NASDAQ:CBOU), a famous US coffee chain, announced on Monday that it had agreed to sell it to Joh, an investment company owned by the Reimann family, one of Germany's richest families, for $340 million. A. Benckiser Group (JAB).

Under the agreement, JAB will pay $16 per Caribou share, a 30 per cent premium to Friday's closing price of $12.32.

Founded in 1992, Caribou is headquartered in Minneapolis and currently has 610 coffee shops in the United States and overseas. The company said it would continue to operate as an independent company after being acquired by JAB, with its own brand and management team.

Caribou's board of directors has been approving the deal. According to FactSet, the company currently has about 20.3 million outstanding shares.

The Lehmann family is one of the richest and most secretive families in Europe, controlling some of the world's best-known consumer brands through JAB, including Koty, Bally, Derek Lam and Reckitt Benckiser.

Earlier this year, JAB bought a controlling stake in Peets Coffee & Tea Inc (NASDAQ: PEET), another US coffee brand, for $974 million.

(responsible Editor: Leo)

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