Caribou Coffee Company, Inc.

Bahrain's Arcapita to keep Caribou stake

DUBAI (Reuters) - Bahrain-based investment bank Arcapita said it plans to hold onto its 60 percent stake in U.S.-based Caribou Coffee as the specialty firm expands to compete with Starbucks Corp.. Asked at the Reuters Middle East Investment Summit in Dubai on Monday whether he planned to sell any shares in Caribou, Arcapita Chief Executive Atif Abdulmalik said: “Not yet ... we are still in the value creation phase.” Caribou is looking to expand in Asia, he said, declining to give further details.

United States of America · 25 Mar 2007

Caribou Coffee prices IPO 5.4M shares at $14

NEW YORK (MarketWatch) -- Caribou Coffee Co., cbou the Minneapolis operator of coffeehouses, priced its initial public offering of 5.4 million shares at $14. The company's underwriters have an option on an additional 804,000 shares if demand is sufficient. Caribou Coffee expects its IPO proceeds to total $67.9 million, with the figure increasing to $78.4 million if the underwriters exercise the over-allotment option. Managing the offering were Merrill Lynch and Thomas Weisel. Caribou will use the funds to pay all amounts outstanding under its revolving-credit line, to expand and develop new coffeehouses and for general purposes. At July 31, Caribou had 337 coffeehouses 14 states and the District of Columbia, including three licensed locations and four joint-venture outlets.

United States of America · 28 Sep 2005

Islamic bank in $80 million bid for US coffee firm

The Bahrain-based First Islamic Investment Bank (FIIB) has launched a bid worth more than $80 million for the Caribou Coffee Company of the United States, a newspaper reported Monday, December 11. The Gulf Daily News said an agreement has been signed to acquire "a substantial interest" in the Minneapolis, Minnesota-based company which has stores in six states. The purchase is expected to be completed by the end of December. The goal of Caribou, which was founded by a young couple, Kim and John Puckett, and whose motto is "Life is Short — Stay Awake", is to become a public company, said FIIB chief executive officer Atif Abdulmalik. "We believe that if the company achieves its growth plan, it will be well-positioned to achieve an initial public offering (IPO) in two to three years," Abdulmalik said, quoted in the paper. Direct investment transactions undertaken by FIIB since it was established in 1997 now exceed $450 million, the daily said. Islamic financial institutions are estimated to have a total of $140 billion invested in more than 40 countries. Those investments are growing annually by 15 to 20 percent. Interest is banned under the Islamic banking system, as the Sharia laws of the Muslim religion forbid usury.— (AFP) © Agence France Presse 2000.

United States of America · 11 Dec 2000