Caribou Coffee will be closing 80 stores on April 14, 2013 and converting 88 to Peet's Coffee & Tea locations.
The 88 stores across Ohio, Michigan, Pennsylvania, Washington D.C., Maryland, Virginia, Georgia, Illinois and Eastern Wisconsin will see conversions over the next 12 to 18 months.
President and CEO of Caribou Coffee Mike Tattersfield said that going forward, Caribou Coffee will be made up of 468 locations across Minnesota, North Dakota, South Dakota, Western Wisconsin, Iowa, Kansas, North Carolina, Denver and ten international markets.
"While the decisions we've made have been difficult for our team in Minneapolis, as well as our team members across the country and our guests and fans everywhere, we are working to make this transition as seamless as possible for the Caribou community," Tattersfield said.
Caribou Coffee is currently headquartered in Brooklyn Center, Minn.
In December, German conglomerate Joh. A. Benckiser Group bought both Caribou and Peet's for $340 million and $1 billion, respectively. Caribou's locations are primarily in the Midwest and East, Peet's in the West.
Caribou Coffee sold to German company: http://www.myfoxtwincities.com/story/20361982/caribou-coffee-sold