American coffeehouse chain Caribou Coffee has finalised a $260m licensing agreement with JDE Peet's.

The deal, first announced in January 2024, includes the transfer of Caribou Coffee’s roasting operations in Minnesota and its office coffee and foodservice contracts.

The transaction will enable Caribou Coffee to focus on its core retail business and will enhance JDE Peet's presence in the North American premium coffee market.

The agreement grants JDE Peet's the rights to manufacture, market and sell Caribou Coffee’s consumer packaged goods and foodservice coffee products outside its coffeehouses.

JDE Peet's will also take over the supply of speciality-grade coffee sold in the coffee chain's retail locations.

When the transaction was announced, Caribou Coffee president and CEO John Butcher said: “This transaction validates the success of multiple business platforms our team has built over the last several years, and JDE Peet’s has the right resources, expertise and team to continue its growth trajectory.

“At the same time, the transaction will leave Caribou Coffee in a stronger position to do what we do best: providing guests with delicious products served alongside an award-winning customer experience.

“JDE Peet’s shares our commitment to responsible sourcing and high-quality standards, and we are excited to work with them to expand the reach of our storied brand as we maintain our legacy of consistency and quality.” 

In addition to the licensing deal, Caribou Coffee has been engaging its Caribou Perks members with exclusive offers.

Launched in January 2024, these promotions include special deals on handcrafted beverages, some of which feature caramel sauce and chocolate chips, aiming to enhance customer loyalty and experience.