Caribou Coffee
 |
|
| Type | Public (NASDAQ: CBOU) |
|---|---|
| Industry | Restaurants Retail Coffee and Tea Retail Beverages |
| Founded | 1992 |
| Headquarters | Brooklyn Center, Minnesota, U.S. |
| Key people | Mike Tattersfield, CEO |
| Revenue |  $262 million USD (2009)[1] |
| Net income | $5.14 million USD (2009)[1] |
| Employees | 6,000+ employees.[1] |
| Website | cariboucoffee.com |
Caribou Coffee Company (NASDAQ: CBOU) is a specialty coffee and espresso retailer, the second largest in the United States[2] after Starbucks. Caribou sells coffee, tea, and bakery goods in 415 company-owned coffeehouses in 16 states and the District of Columbia, as well as 126 franchise locations worldwide.[3]
Contents |
[edit] History
In 1990, on a trip to Denali National Park in Alaska, Caribou Coffee was imagined by newlyweds John and Kim Puckett. The couple raised money to start the first Caribou Coffee shop in Edina, Minnesota, a suburb of Minneapolis, in 1992. Following several years of mixed performance, the Pucketts sold their controlling interest in the company in 1998 for $120 million to Atlanta-based Crescent Capital, which has since changed its name to Arcapita.
Since opening, the chain has expanded to 415 locations in 16 states and the District of Columbia,[5] making it the second-largest operator of non-franchised coffeehouses in the United States, after Starbucks Corporation. This includes 24 licensed locations in the U.S. and two overseas markets. Caribou maintains its headquarters and coffee-roasting facility in the Minneapolis metropolitan area.
Arcapita was Caribou Coffee's majority shareholder. In 2002 Yusuf al-Qaradawi's involvement[6] with the bank led to a protest of Caribou Coffee. That same year al-Qaradawi stepped down as chairman of the bank's Sharia board.[7] In 2005 Arcapita completed an IPO of Caribou. On September 28, 2005, Caribou Coffee became a publicly traded company. In 2011, Arcapita sold their shares of Caribou Coffee. As of September 30, 2011 no one entity owns more than 8% of Caribou's outstanding shares.[8]
On February 28, 2010, Caribou announced a corporate-wide rebranding, and began using their new "coffee bean caribou" logo officially on March 1, 2010.[9]
-
Original Caribou Coffee logo, in use from 1992 through February 28, 2010.
-
New Caribou Coffee logo, in use from March 1, 2010 through present.
[edit] Partnerships
Caribou is in a partnership with the Rainforest Alliance. Caribou is planning to offer only coffees that are composed of 100% Rainforest Alliance certified beans by the end of 2011.[10]
[edit] See also
[edit] References
- ^ a b c Company Information
- ^ Caribou Coffee
- ^ Company Overview
- ^ Caribou Coffee K-Cups - Single Cup Boxes
- ^ Caribou Coffee | Investors | Company Overview
- ^ Annual Report 2000
- ^ Sheik Yusuf al-Qaradawi: Theologian of Terror - Affiliations, Anti-Defamation League, August 1, 2005
- ^ "2011 Caribou Coffee Ownership". Caribou Coffee. http://phx.corporate-ir.net/phoenix.zhtml?c=192910&p=irol-newsArticle&ID=1597814&highlight=. Retrieved 3 February 2012.
- ^ Minneapolis StarTribune | Business | February 28, 2010
- ^ Caribou Coffee | About Our Coffee | Responsible Sourcing
[edit] External links
 |
Wikimedia Commons has media related to: Caribou Coffee |
- Official site
- Islamic bank is majority owner of the Caribou Coffee chain. Snopes reports on startup problems and funding sources.
- Will Caribou's Shari'ah Affect Shares?.
- Caribou Coffee's majority stakeholder Arcapita's website displaying all US investments including Tensar, Cypress Communications, Southland Log Homes, Church's Chicken, Loehmann's, Cirrus Design, and many others.
- Rainforest Alliance Caribou Coffee Company Takes a Leadership Role in Backing Sustainable Coffee Growing Practices
- Caribou Coffee Tops Consumer Reports' Latest Ratings
