Caribou Opens 100th Int’l Location; More Planned
Caribou Coffee Company, Inc., recently hit a global milestone with the opening of its 100th worldwide location in Istanbul, Turkey.
On May 10, the Brooklyn Center-based coffeehouse operator began brewing at its newest non-U.S. location, and it plans to continue its expansion in the international market.
“The 100th international coffeehouse milestone is part of our larger expansion strategy to develop and strengthen Caribou’s brand in the countries where we already exist, before proceeding to grow in new markets,” Mike Tattersfield, president and CEO of Caribou Coffee, said in a statement. “We plan to open a number of stores, both domestically and internationally, and increase our total store count by 10 to 12 percent in 2012.”
Behind Starbucks, Caribou is the second largest coffeehouse operator in the United States—where it has 585 shops in 21 states.
The shop in Istanbul is Caribou’s sixth in Turkey, and it was opened in partnership with master franchisee Al Sayer Group and Turkish company Yildiz Holding. Al Sayer operates 89 of Caribou’s 100 international locations, which are in Kuwait, United Arab Emirates, Lebanon, Bahrain, Jordan, Oman, and Kingdom of Saudi Arabia.
“The Caribou brand, and our shared dedication to quality and service, has resonated well in this region of the world,” Al Sayer Group General Manager Hamad Alsayer said in a statement. “We view this market expansion as an important step in our combined commitment to global franchise development over the next several years.”
The announcement comes at a time when Caribou is focused on growing its commercial business and increasing packaged coffee sales in grocery stores and retail locations, mostly in the United States.
Caribou is among Minnesota’s 60-largest public companies based on revenue, which totaled $326.5 million in the fiscal year that ended in January.