By LAURA CLARK, News Editor
If you’re looking for a local Caribou Coffee in Michigan after this April, you might be out of luck.
This past Sunday, Caribou Coffee, a Minnesota based company, shut the doors to 80 locations, 22 of which are in Michigan and mostly located in the Metro Detroit area. The Caribou Coffee locations will be rebranded as Peet’s Coffee and Tea. Caribou Coffee and Peet’s Coffee and Tea are both owned by the same German investment company, which is hopeful that the switch to Peet’s Coffee and Tea will help boost performance.
In a statement, Caribou Coffee CEO Mike Tattersfield said, “Over the past few months, we at Caribou have revisited our business strategy, including closely evaluating our performance by market to make decisions that best position us for long-term growth,” according to annarbor.com.
But coffee lovers everywhere will just have to wait and see if Peet’s Coffee and Tea can face its competition. Biggby Coffee, based in East Lansing, has just announced it will open 100 brand new stores in Metro Detroit within the next two years.