Dubai: Caribou Coffee is on an aggressive expansion streak that will see the popular coffee shop brand operating over 350 stores in the Middle East, North Africa, and Turkey region by 2021. In an interview with Khaleej Times, Hamad Al Sayer, managing director of Al Sayer Franchising Company, which has the regional franchising rights for the brand, explained that the brand’s expansion had consistently been on the cards for a while. “We have been performing extremely well over the past eight to nine years,” said Al Sayer. “We have been recording a double-digit growth in the Mena region this year, and over the past five years. Currently, we have around 180 stores in the region and as a brand have been successful in serving the best-quality coffee to our customers.” Highlighting the brand’s expansion in the UAE, Al Sayer said that Caribou Coffee will have a total of 53 stores in the country by the end of this year. “We have store openings scheduled in Ajman, Al Ain, and Dubai. Our aim is to open 60 stores in the UAE by 2015. Most of our stores are located in Dubai, but we are looking to open several more stores in the other emirates as well,” he said. “We have around 33 stores in Turkey currently, with three more opening by the end of this year.” “Expansion has constantly been on the cards,” he added. “If you believe in the brand, you have to constantly take it forward and expand it. Caribou’s expansion has been going on steadily and consistently. Our vision is to be everywhere that our customers want us to be. We want to take that step forward and be ready for our customers before they come to us.” Asked what made Caribou Coffee different from its competitors, Al Sayer said: “Everybody on our team loves what they are doing, and always try to aim for perfection. We try to be close to our customers on how they want their food and coffee served, and on what they want to see in our stores. For instance, we noticed that a lot of people were looking for healthier eating options so we added a lot of healthy eating ranges on our menu, and we increased the number of salads we offer. In addition, customers can also get gluten free and lactose free options on our menus.” Al Sayer also stressed that the company followed a very customer-centric approach. The best thing to do is to put yourself into the customers’ shoes and understand what they really want, he stated. Recently, the company decided to include Dream Factory Bakery products by Cheesecake Factory on their menu. “We added the Dream Factory products to our bakery division,” Al Sayer said, adding that the brand was always looking for new ways to innovate. “Our latest innovation is the Blended Cupcake Snowdrift; you can now drink a cupcake. We originally started with the Red Velvet flavour snowdrifts, and now have Peanut Butter and Fudgy Wudgy Chocolate blended cupcake snowdrifts. We are trying to bring in more and more innovative products every year,” he said. The coffee shop also launched its holiday campaign on November 1. The holiday menu this year features the new Gingersnap Cookie Mocha, as well as a returning favourite, the Spicy Mocha. Other additions on the festive holiday menu include the holiday turkey sandwich, which is served with cranberry sauce, and the traditional red velvet cheesecakes and holiday cookies. “Some of our products became so popular that we decided to make them a permanent addition to our menu. The Salted Caramel Mocha is one example,” Al Sayer revealed. “Our seasonal campaigns give us a chance to test the public’s reaction to a new menu item and if the response is great, we decide on adding it to our fixed menu.” Al Sayer also revealed that Caribou Coffee was launching its mobile app, that will be available by the third quarter of 2015, on both iOS and Android devices. “The most important things in this business are mobile devices and coffee,” he joked. “No, but seriously, this is the way of the future. Mobile phones are now a necessity and we are constantly looking for ways to get closer to our customers. You have to adapt, and adapt quickly since technology is evolving at a very fast pace.” Asked about Caribou’s future targets, Al Sayer said: “We are pushing double digit growth aggressively and will continue to see it as such in the coming years. We are optimistic on our growth and are constantly raising the bar, when it comes to what our customers expect of us.” rohma@khaleejtimes.com

Dubai: The premium coffee chain operator and the second largest in the US after Starbucks, Caribou, is finally brewing the right mix of locations across its Middle East network. “In the past there was an issue getting the right locations as Caribou was not a known brand compared with some of the other names already present here ... that’s changing now,” said Hamad Al Sayer, managing director at Al Sayer Retail Est, a Kuwaiti group which has the regional franchisee rights. “But I agree that we have to be much faster with our retail presence rollout.” Even while facing down scepticism from prospective landlords, Caribou has still managed to plant a presence in 140 locations and which Al Sayer wants to raise to 170 outlets by 2015. That could be anywhere from a 1,000 square metre supersized outlet to a 16 square metre “condensed area”. All of the leading international coffee chain brands are in expansion mode, with Tim Hortons being particularly aggressive in seeking out new locations. Of late, local F & B groups such as Diamond Hospitality have also been experimenting with slightly more upscale café concepts, while the Danube Group, primarily into building materials, intends to steam ahead with the Cha Cha Chai tea outlets. “Tim Hortons coming in shook up the market radically and showed there was potential for new offerings within premium coffee options,” said Al Sayer. “For our expansion, we intend to be aggressive, but will not commit to any location that does not make economic sense — we are not interested in losing money.” Interestingly, there is a Gulf flavour to Caribou Coffee’s back story. The Bahraini bank Arcapita held a stake in the entity until late 2011. More recently, in December 2012, Germany’s Joh. A. Benckiser Group (JAB) announced a merger under which an affiliate acquired Caribou for $340 million. JAB’s other interests include upscale labels such as Bally and Jimmy Choo. “Under JAB’s ownership, there’s a clear mandate to grow the Caribou brand and have enough allocations to support those expected growth levels,” said Al Sayer. “Saudi Arabia and Turkey represent the biggest opportunities to take the brand forward — we already have 25 locations in Turkey. “There could be other F & B concepts Al Sayer Retail could take up ... but again it will be a gradual step. We are not interested in being a brand collector.”

Caribou Coffee entered the Kuwaiti market in 2005 after signing an exclusive franchise agreement with Al-Sayer Imtiazat General Trading and Contracting . Caribou is currently under the legal umbrella of Gulf Coffee Co. for Restaurant Management WLL which is also owned by Al-Sayer family. Despite the 6 years lag from its main competitor Starbuck in the Kuwaiti market, Caribou proved itself as a strong competitor in the selected locations, coffee and outlet standards, and marketing campaigns.

MINNEAPOLIS, Jan. 24, 2013 /PRNewswire/ -- JAB Beech Inc. ("JAB"), a member of the Joh. A Benckiser Group, today announced the successful completion of its previously announced acquisition of Caribou Coffee Company, Inc. (Nasdaq: CBOU) ("Caribou") for $16 per share, or approximately $340 million in the aggregate. JAB acquired Caribou through a tender offer and subsequent merger. As a result of the completion of the merger, Caribou has become a wholly-owned subsidiary of JAB and the common stock of Caribou ceased trading on the NASDAQ Global Select Market on January 24, 2013. BDT Capital Partners ("BDTCP"), a Chicago-based merchant bank that provides long-term private capital solutions to closely held companies, is a minority investor in this transaction alongside the Joh. A Benckiser Group. In addition to BDTCP's capital investment, BDT & Company served as a financial co-advisor to the Joh. A Benckiser Group with Morgan Stanley & Co. LLC. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to the Joh. A Benckiser Group in this transaction. Moelis & Co LLC served as an exclusive financial advisor to Caribou in connection with this transaction and Briggs and Morgan P.A. acted as Caribou's legal advisor. About The Joh. A Benckiser Group The Joh. A Benckiser Group is a privately held group of affiliated companies focused on long term investments in companies with premium brands in the Fast Moving Consumer Goods category. The Joh. A Benckiser Group's portfolio includes a majority stake in Coty Inc., a global leader in beauty, a majority stake in Peet's Coffee & Tea Inc., a premier specialty coffee and tea company, a minority stake in Reckitt Benckiser Group PLC, a global leader in health, hygiene and home products and a minority investment in D.E Master Blenders 1753 N.V., an international coffee and tea company. The Joh. A Benckiser Group also owns Labelux, a luxury leather goods company with brands such as Jimmy Choo, Bally and Belstaff. The assets of the group are overseen by its three senior partners, Peter Harf, Bart Becht and Olivier Goudet. About BDT Capital Partners BDT Capital Partners provides family-owned and entrepreneurially led companies with long-term capital, solutions-based advice and access to an extensive network of world-class family businesses. Based in Chicago, BDT Capital Partners is a merchant bank structured to provide advice and capital that address the unique needs of closely held businesses. The firm has a $3 billion investment fund as well as an investor base with the ability to co-invest significant additional capital. Through its advisory business, BDT & Company works with family businesses to pursue their long-term strategic and financial objectives. Forward-Looking Statements This press release contains forward-looking statements that are not historical facts and are subject to risks and uncertainties that could cause actual results to differ materially from those described. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Forward-looking statements in this communication include statements regarding the anticipated benefits of the transaction; statements regarding the expected timing of the completion of the transaction; and any statements of assumptions underlying any of the foregoing. All forward-looking statements are based largely on current expectations and beliefs concerning future events, approvals and transactions that are subject to substantial risks and uncertainties. Factors that may cause or contribute to the actual results or outcomes being different from those expressed or implied in the forward-looking statements include are discussed in the Company's filings with the SEC, including in its periodic reports filed on Form 10-K and Form 10-Q with the SEC. Copies of the Company's filings with the SEC may be obtained at the "Investors" section of the Company's website at www.cariboucoffee.com. The forward-looking statements made in this communication are made only as of the date of this communication, and the Company undertakes no obligation to update them to reflect subsequent events or circumstances. SOURCE JAB Beech Inc.

The much beloved Caribou Coffee is returning to Qatar, with five shops planning to open this year, including three next month, an official at the Qatar Quality Foods Company (QQF) has said. A shop on the Pearl (near Spinney’s), one at Al Jazeera Petrol Station on Salwa Road and another branch at Abu Hamour Petrol Station are all primed for a February opening, Fadi Beyrouthi, QQF’s general manager told Doha News. The American chain used to be operated in Qatar by the Al Wataniya group, which shuttered its shops last year, much to the dismay of many Qatar residents. Caribou is now being managed under the Al Mana Group. Over the past few weeks, a few Caribou outlets have been offering free drinks to passersby, as the company awaits the proper licensing to begin operations. Other locations are expected to open in April, including a branch at Jarir Bookstore in Al Rayyan and one at City Center Mall (third floor), Beyrouthi said. If the excitement expressed by some bloggers are any indication, Caribou is about to get a very warm welcome.

MINNEAPOLIS--(BUSINESS WIRE)--Caribou Coffee Company, Inc. (NASDAQ: CBOU), the second-largest company-owned premium coffeehouse operator in the United States based on the number of coffeehouses, and the Joh. A. Benckiser Group (JAB) announced a definitive merger agreement under which an affiliate of JAB will acquire Caribou for $16.00 per share in cash, or a total of approximately $340 million. The agreement, which has been unanimously approved by Caribou’s independent directors, represents a premium of approximately 30 percent over Caribou’s closing stock price on December 14, 2012, the last trading day prior to the announcement of the transaction. At the close of the transaction, Caribou will continue to be operated as an independent company with its own brand, management team and growth strategy. Caribou will remain based in Minneapolis, Minnesota. “Caribou Coffee is a great company, with dedicated people, world-class customer service, exceptionally high quality coffeehouse beverages and food and a state-of-the-art roasting facility. The employees of Caribou should feel very proud of all they’ve been able to accomplish over the years, and I look forward to continued success in Caribou’s future,” said Gary Graves, Non-Executive Chairman of Caribou. “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 Chief Executive Officer of Caribou. “Caribou has a fantastic brand and unique culture, and fits perfectly with JAB’s investment philosophy of investing in premium and unique brands in attractive growth categories like coffee,” said Bart Becht, Chairman of Joh. A. Benckiser Group. “JAB is committed to investing in Caribou as a standalone business out of Minneapolis to ensure the Company continues its current highly successful track record.” Under the terms of the merger agreement, an affiliate of JAB will promptly commence a tender offer to acquire all of the outstanding shares of Caribou's common stock at a price of $16.00 per share in cash. Following successful completion of the tender offer, JAB will acquire all remaining shares not tendered in the offer through a second-step merger at the same price as in the tender offer. The consummation of the tender offer is subject to various conditions, including a minimum tender of at least a majority of outstanding Caribou shares on a fully diluted basis, the expiration or termination of the waiting periods under applicable competition laws, and other customary conditions. The tender offer is not subject to a financing condition. BDT Capital Partners, a Chicago-based merchant bank that provides long-term private capital solutions to closely held companies, is a minority investor in this transaction alongside JAB. In addition to BDTCP’s capital investment, BDT & Company served as a financial co-advisor to JAB with Morgan Stanley & Co. LLC. Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal advisor to JAB in this transaction. Moelis & Co LLC is serving as exclusive financial advisor to Caribou in connection with this transaction and Briggs and Morgan P.A. is acting as Caribou’s legal advisor. About Caribou Founded in 1992, Caribou is one of the leading branded coffee companies in the United States, with a compelling multi-channel approach to their customers. Based on the number of coffeehouses, Caribou is the second largest company-operated premium coffeehouse operator in the United States. As of September 30, 2012, the Company had 610 coffeehouses, including 202 franchised locations, in 22 states, the District of Columbia and ten international markets. The Company's coffeehouses aspire to be the community place loved by guests who are provided an extraordinary experience that makes their day better. Caribou provides the highest quality handcrafted beverages, foods and coffee lifestyle items with a unique blend of expertise, fun and authentic human connection in a comfortable and welcoming coffeehouse environment. In addition, Caribou’s unique coffees are available within grocery stores, mass merchandisers, club stores, office coffee and foodservice providers, hotels, entertainment venues and e-commerce channels. Caribou is a proud recipient of the Rainforest Alliance Corporate Green Globe Award and is committed to operating practices that promote sustainability and environmental protection. For more information, visit the Caribou web site at www.cariboucoffee.com. About Joh. A. Benckiser Joh. A. Benckiser and affiliated companies is a privately held group focused on long term investments in companies with premium brands in the Fast Moving Consumer Goods category. The Joh. A. Benckiser-group’s portfolio includes a majority stake in Coty Inc., a global leader in beauty, a majority stake in Peet’s Coffee & Tea Inc., a premier specialty coffee and tea company, a minority stake in Reckitt Benckiser Group PLC, a global leader in health, hygiene and home products and a minority investment in D.E Master Blenders 1753 N.V., an international coffee and tea company. JAB also owns Labelux, a luxury leather goods company with brands such as Jimmy Choo, Bally and Belstaff. The assets of the group are overseen by its three senior partners, Peter Harf, Bart Becht and Olivier Goudet. About BDT Capital Partners BDT Capital Partners provides family-owned and entrepreneurially led companies with long-term capital, solutions-based advice and access to an extensive network of world-class family businesses. Based in Chicago, BDT Capital Partners is a merchant bank structured to provide advice and capital that address the unique needs of closely held businesses. The firm has a $3 billion investment fund as well as an investor base with the ability to co-invest significant additional capital. Through its advisory business, BDT & Company works with family businesses to pursue their long-term strategic and financial objectives. Additional Information and Where to Find It The tender offer described in this document has not yet commenced. This announcement is neither an offer to purchase nor a solicitation of an offer to sell shares of Caribou. At the time the offer is commenced, an affiliate of JAB will file a Tender Offer Statement on Schedule TO with the U.S. Securities and Exchange Commission, and Caribou will file a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the offer. Caribou stockholders and other investors are urged to read the tender offer materials (including an Offer to Purchase, a related Letter of Transmittal and certain other offer documents) and the Solicitation/Recommendation Statement because they will contain important information which should be read carefully before any decision is made with respect to the tender offer. The Offer to Purchase, the related Letter of Transmittal and certain other offer documents, as well as the Solicitation/Recommendation Statement, will be made available to all stockholders of Caribou at no expense to them. The Tender Offer Statement and the Solicitation/Recommendation Statement will be made available for free at the Commission’s web site at www.sec.gov. Free copies of these materials and certain other offering documents will be made available by the information agent for the offer. In addition to the Solicitation/Recommendation Statement, Caribou files annual, quarterly and special reports, proxy statements and other information with the Securities and Exchange Commission. You may read and copy any reports, statements or other information filed by Caribou at the SEC public reference room at 100 F Street, N.E., Washington, D.C. 20549. Please call the Commission at 1-800-SEC-0330 for further information on the public reference room. Caribou's filings with the Commission are also available to the public from commercial document-retrieval services and at the website maintained by the Commission at www.sec.gov. Contacts Media Contacts: For Caribou: Ruder Finn, Inc. Blythe Posner, 212-593-6306 posnerb@ruderfinn.com or For JAB: Abernathy MacGregor Group Tom Johnson, 212-371-5999 tbj@abmac.com Chuck Burgess, 212-371-5999 clb@abmac.com or For BDT Capital Partners: Jennifer Dunne, 312-660-7314 jdunne@bdtcap.com or Investor Contact: Raphael Gross, 203-682-8253 ir@cariboucoffee.com