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JDE Peet’s Takes Over Caribou Coffee Manufacturing

Jan. 22, 2024
The global license agreement will enable JDE to manufacture, market and sell Caribou-branded consumer and foodservice coffee products.

JDE Peet’s, which claims to be the world’s largest pure-play coffee and tea company, inked a long-term global license agreement to manufacture, market and sell Caribou consumer and foodservice coffee products, excluding Caribou coffeehouses.

That means JDE will become the primary supplier for Caribou’s coffeehouses, and the deal includes JDE operating Caribou’s roasting operations in Minneapolis. European media were reporting JDE will pay $260 million.

The transaction appears to reduce Caribou to franchising and operating its company-owned and licensed shops. Caribou has more than 800 coffeehouses in 11 countries, primarily in the U.S. It’s owned by Panera Brands.

JDE Peet’s sees it as a platform to expand its premium coffee portfolio in North America. Otherwise, details were a little sketchy. “We will work closely with the Caribou team on the ongoing development of Caribou-branded products, as Caribou continues to expand its operations in the United States and abroad,” said Fabien Simon, CEO of JDE Peet’s.

JDE was created in 2014 when Mondelez International and D.E Master Blenders 1753 B.V. combined their coffee businesses. Peet’s chain of coffee shops was added a few years later.

About the Author

Dave Fusaro | Editor in Chief

Dave Fusaro has served as editor in chief of Food Processing magazine since 2003. Dave has 30 years experience in food & beverage industry journalism and has won several national ASBPE writing awards for his Food Processing stories. Dave has been interviewed on CNN, quoted in national newspapers and he authored a 200-page market research report on the milk industry. Formerly an award-winning newspaper reporter who specialized in business writing, he holds a BA in journalism from Marquette University. Prior to joining Food Processing, Dave was Editor-In-Chief of Dairy Foods and was Managing Editor of Prepared Foods.