Kare11
Caribou Coffee, JDE Peet’s partner to expand coffee portfolio
The coffeehouse said the agreement was valued at $260 million, and includes the transfer of Caribou’s roasting operations in Minnesota and its foodservice contracts.
BROOKLYN CENTER, Minn. — Editor’s note: The video above first aired on KARE 11 in November 2023.
The caffeine-lover’s Midwestern cult-favorite Caribou Coffee announced a deal to license its brand to beverage company JDE Peet’s Friday, essentially handing over its roasting, marketing and distributing operations.
A statement from the coffeehouse said the agreement was valued at $260 million, and includes the transfer of Caribou’s roasting operations in Minnesota, as well as its office coffee and foodservice contracts. Caribou said the deal is “mutually beneficial,” allowing it to focus on “its core popular retail coffeehouse business,” while JDE Peet’s will help expand its efforts outside its coffeehouses and across North America.
The deal is expected to close, subject to typical closing conditions, in the first quarter of this year.
“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,” said John Butcher, president and CEO of Caribou Coffee, in a statement. “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 also released a statement, saying the company is “delighted” to enter into the partnership.
“Caribou is an iconic brand with outstanding facilities and we will complement its strong brand equity with JDE Peet’s’ distribution and innovation capabilities to strengthen our presence and serve more coffee lovers in the largest coffee market in the world,” said Fabien Simon, CEO of JDE Peet’s, in a statement.
Minnesota-based Caribou Coffee currently has more than 800 locations in 11 countries, a significant growth since the opening of its first location in Edina in 1992.
With its new partnership, Caribou said it does not expect the need for store closures or staff layoffs.
WATCH MORE ON KARE 11+
Download the free KARE 11+ app for Roku, Fire TV, Apple TV and other smart TV platforms to watch more from KARE 11 anytime! The KARE 11+ app includes live streams of all of KARE 11’s newscasts. You’ll also find on-demand replays of newscasts; the latest from KARE 11 Investigates, Breaking the News and the Land of 10,000 Stories; exclusive programs like Verify and HeartThreads; and Minnesota sports talk from our partners at Locked On Minnesota.
Watch the latest local news from the Twin Cities and across Minnesota in our YouTube playlist:
Tyler Morris of Trimont, Minnesota said he purchased the insoles on Amazon last year to use while hunting and fishing.
TRIMONT, Minn. — “Don’t do it.”
That’s the message Mikaela Morris of Trimont, Minn. has for anyone interested in purchasing rechargeable heated apparel products to keep warm this winter. In a Facebook post, she shared photos of her husband Tyler’s charred foot and melted-off skin after his rechargeable insoles, which were not turned on at the time, exploded inside his boots.
Tyler said he purchased the insoles on Amazon last year to use while hunting and fishing. The insoles, sold by the company iHEAT based in China, are no longer available on Amazon. KARE contacted Amazon and iHEAT for comment but has not heard back.
Tyler said when he took the insoles out again this fall for deer hunting season, they weren’t working very well but he kept them in his boots for added comfort.
“I guess I should have taken them out because I was not using them; they were not on,” Tyler said. “They were just in my boots, and all of a sudden the one exploded.”
On Thursday, Dec. 12, Tyler said he was preparing to put a fish house on the lake when he felt a sharp pain in his right foot.
“It just felt like a knife stabbed me in my heel,” he recalled. “Then it started getting super, super hot, and I started freaking out, and there was white smoke just billowing out of my boot.”
Tyler said he managed to kick his boot off within five seconds, but half of his sock was already burning.
“The insole came out in pieces,” he said, adding that he’s thankful he was wearing wool socks and shoes without laces, which likely saved him an even worse injury than the second and third-degree burns he sustained on his right foot.
“This happens apparently all the time,” Tyler said. “In fact, when we got to Hennepin County, the doctor there told us that I was the third person she had seen for this this week.”
Tyler lost feeling in some parts of his foot and was told by doctors he might need skin grafts. He and Mikaela are warning others to do extensive research before buying any rechargeable apparel products, especially those manufactured overseas and not locally, or to avoid buying similar products altogether.
“I would say on any of it,” Mikaela said. “Heated insoles, socks, vests, coats, gloves because not only could it have been his foot, it could have been his hand, it could have been his, if he had socks on, it could have been his whole leg.”
Larry Raasch volunteered at the department for 25 years.
WEST ST PAUL, Minn. — The West St. Paul Police Department has lost one of its most decorated servants.
Larry Raasch volunteered as a reserve officer for 25 years, logging more than 4,000 hours.
“He really cared about this department and this community,” said West St. Paul Police Chief Brian Sturgeon.
Raasch volunteered at least eight hours a week at the West St. Paul Police station. Before he started helping out there, he was a reserve for the St. Paul Police Department. In total, he’s spent more than 50 years volunteering at police departments.
“He loved this community that’s what it was, he loved the community, he loved the department, he loved the city, he loved his neighbors, he loved the business owners in town, and he just wanted to give back. That’s why he was doing what’s he doing,” Sturgeon said.
Raasch’s daughter Lisa McDermott said her father lived to serve the community. He would drive people around town if they needed a ride and would help anyone who needed it. His life has been dedicated to service. She said her father is a Vietnam Veteran. He was stationed in Munich, Germany as a medic.
Captain of the reserves Mike Whebbe said he was dedicated to serving his community. He’s worked alongside Raasch for decades.
Raasch was one of the police department’s 15 reserves. Sturgeon said they assist sworn officers and departments, attend community events, help with prisoner transport, and traffic control. Sturgeon said the reserves help the department immensely and have save them a lot of money.
“Over the course of the 25 years, it’s close to $1 million,” he said.
Sturgeon said two years, he received the President’s Volunteer Service Lifetime Achievement award.
“He dedicated over 4,000 hours. I’m sure it was a lot more than that,” Sturgeon said.
He said Raasch was one of the oldest reserves, his “meticulous” nature earned him a spot helping out in the property room as a volunteer evidence tech.
“His age didn’t keep him down though. He was always available to us whenever we needed it. We were very appreciative of his dedication to this community,” he said. “He just wanted to be a part of this organization. He wanted to be a part of this city and being a reserve was one way he could be a part of this organization and this community.”
Sturgeon said he’ll miss hearing Raasch say “hi, good morning, good afternoon, how are you doing,” when he would walk into the department. He said no one will ever be able to fill his shoes.
“Larry was a character, he was a one-of-a-kind,” Sturgeon said. “We’ve all learned a lot from him, especially the reserves. I mean like I said he coached and mentored the younger reserves.”
He said it’s going to be hard without him. Sturgeon said Raasch was the embodiment of an outstanding community member, who made West St. Paul a safer and brighter place.
“He’s one of a kind that’s for sure and he’s going to be greatly missed,” Sturgeon said.
Larry Raasch volunteered at the department for 25 years.
WEST ST PAUL, Minn. — The West St. Paul Police Department has lost one of its most decorated servants.
Larry Raasch volunteered as a reserve officer for 25 years, logging more than 4,000 hours.
“He really cared about this department and this community,” said West St. Paul Police Chief Brian Sturgeon.
Raasch volunteered at least eight hours a week at the West St. Paul Police station. Before he started helping out there, he was a reserve for the St. Paul Police Department. In total, he’s spent more than 50 years volunteering at police departments.
“He loved this community that’s what it was, he loved the community, he loved the department, he loved the city, he loved his neighbors, he loved the business owners in town, and he just wanted to give back. That’s why he was doing what’s he doing,” Sturgeon said.
Raasch’s daughter Lisa McDermott said her father lived to serve the community. He would drive people around town if they needed a ride and would help anyone who needed it. His life has been dedicated to service. She said her father is a Vietnam Veteran. He was stationed in Munich, Germany as a medic.
Captain of the reserves Mike Whebbe said he was dedicated to serving his community. He’s worked alongside Raasch for decades.
Raasch was one of the police department’s 15 reserves. Sturgeon said they assist sworn officers and departments, attend community events, help with prisoner transport, and traffic control. Sturgeon said the reserves help the department immensely and have save them a lot of money.
“Over the course of the 25 years, it’s close to $1 million,” he said.
Sturgeon said two years, he received the President’s Volunteer Service Lifetime Achievement award.
“He dedicated over 4,000 hours. I’m sure it was a lot more than that,” Sturgeon said.
He said Raasch was one of the oldest reserves, his “meticulous” nature earned him a spot helping out in the property room as a volunteer evidence tech.
“His age didn’t keep him down though. He was always available to us whenever we needed it. We were very appreciative of his dedication to this community,” he said. “He just wanted to be a part of this organization. He wanted to be a part of this city and being a reserve was one way he could be a part of this organization and this community.”
Sturgeon said he’ll miss hearing Raasch say “hi, good morning, good afternoon, how are you doing,” when he would walk into the department. He said no one will ever be able to fill his shoes.
“Larry was a character, he was a one-of-a-kind,” Sturgeon said. “We’ve all learned a lot from him, especially the reserves. I mean like I said he coached and mentored the younger reserves.”
He said it’s going to be hard without him. Sturgeon said Raasch was the embodiment of an outstanding community member, who made West St. Paul a safer and brighter place.
“He’s one of a kind that’s for sure and he’s going to be greatly missed,” Sturgeon said.
