Dive Summary:
- After the recent acquisition of D.E. Master Blenders 1753, JAB has announced it plans to pull out of Chicago with its Caribou Coffee franchises.
- Most of the locations will close, while a few will be converted into Peet's Coffee and Tea, another recent acquisition of JAB.
- About 1000 people are set to lose their jobs as the transition is expected to end by 2014.
From the article:
Caribou didn't provide a list of stores affected by the closings or conversions. But most downtown Chicago Caribou locations will remain open and be rebranded Peet's stores by 2015. Employees at the chain's Long Grove, Lake Forest, Northbrook and Winnetka locations said Monday that their stores also would remain open, eventually becoming Peet's. It's unclear if personnel in those stores will retain their jobs.
