Minneapolis -- Investment firm Joh. A. Benckiser Group agreed to acquire Caribou Coffee Co. for approximately $340 million.
Caribou will continue to be based in Minneapolis and operate under its own brand and management, the companies said in a statement. As of September 30, 2012, the company had 610 coffeehouses, including 202 franchised locations, in 22 states, the District of Columbia and 10 international markets.
“We anticipate the next chapter in Caribou’s journey will be filled with tremendous opportunities to grow this great brand, with new ownership,” said Michael Tattersfield, president and CEO of Caribou.