Minneapolis-based Caribou Coffee will close 80 stores this month and convert 88 other locations in eight states into Peet's Coffee & Tea shops over the next 12 to 18 months, the company said. Caribou was acquired last year by German-based Joh. A Benckiser Group, which also owns a majority stake in Peet's.
Caribou Coffee to close 80 stores, turn 88 more into Peet's
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