Caribou coffee is look to downsize, but Nebraska coffee lovers don't need to worry. The company is not planning on closing the Kearney or Grand Island Hy-Vee locations.
The Minneapolis–based chain announced plans to close 80
"underperforming" store locations across the U.S. next week. The company is also planning to convert 88 other locations into Peet's Coffee & Tea.
Caribou says it is making the changes to better position the coffee
company for long-term growth. The company says the store closures will
occur in April but did not disclose where. The conversions will occur
over the next 12 to 18 months in nine states.
Caribou was taken private last year by a German investment firm that also holds a majority stake in Peet's.