Caribou Coffee Quits Illinois

Caribou Coffee Co. (Brooklyn Center, Minn.) announced it will be getting out of the state of Illinois, closing 80 locations immediately and turning 88 others in the Chicago area into Peet's Coffee & Tea units. 

Both brands are owned by the German holding company Joh. A. Benckiser.

Caribou, which had 610 locations at the end of 2012, will trim that number to 486 by 2015, retreating into its home state of Minnesota, plus North Dakota, South Dakota, western Wisconsin, Iowa and Kansas. It will also retain a presence in North Carolina and Denver, plus 10 international markets.

Peet's, which has about 200 branded cafes, also has a presence within larger retail stores such as Target and various supermarkets. Peet’s has been characterized as upscale, while Caribou tried to position itself as a more laid-back alternative to Starbucks.