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Report: Caribou Coffee to close 80 stores, rebrand 88 others into Peet’s
New York -- Caribou Coffee will close some 80 stores nationwide and turn 88 other locations into Peet's over the next 12 to 18 months, the Chicago Tribune reported.
Caribou, which is based in Minneapolis, went private this year in a $340 million deal with German investment firm Joh. A. Benckiser Group (JAB), which also owns Peet’s.