Caribou Coffee and Joh A Benckiser Group (JAB) have signed a definitive merger agreement under which an affiliate of JAB will acquire Caribou for $340m.
Chicago-based merchant bank BDT Capital Partners is a minority investor in this transaction alongside JAB.
Caribou president and CEO Michael Tattersfield said: "We anticipate the next chapter in Caribou's journey will be filled with tremendous opportunities to grow this great brand, with new ownership."
JAB Group chairman Bart Becht said that the US-based premium coffeehouse operator perfectly fits with the company's philosophy of investing in growth categories like coffee.
"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," he added.
As of 30 September 2012, Caribou had 610 coffeehouses, including 202 franchised locations, in 22 states, the District of Columbia and ten international markets.
JAB 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 group's portfolio includes a majority stake in Peet's Coffee & Tea, a premier specialty coffee and tea company, and a minority investment in DE Master Blenders 1753, an international coffee and tea company.
