Caribou Coffee to expand with over 300 franchise locations
Credit: Caribou Coffee
Caribou Coffee, a national premium coffeehouse and Panera Brands company, is signing several multi-unit development agreements to franchise more than 300 new locations domestically. Founded in 1992, Caribou Coffee expanded its franchise program in October 2021, marking the first time interested candidates had an opportunity to own and operate traditional franchise locations in the United States.
In March 2022, Caribou Coffee announced the signing of its first multi-unit development agreement with Mike Mariola Restaurants to franchise locations in Ohio. Mike Mariola and his team opened their first Caribou Coffee location on 17 November 2022, in Wooster, Ohio. Mariola plans to develop 60 locations in the Columbus, Dayton, and Cincinnati markets.
Caribou Coffee also executed a multi-unit development agreement with Wake Up 727 to franchise locations in Pinellas County Florida, most known for the cities of St. Petersburg and Clearwater. Wake Up 727, under the leadership of Michelle Mathis, recently expanded their agreement to develop 35 locations with Mathis’ first location opening this fall.
Additional agreements have been executed with several Panera Bread franchisees. Caribou Coffee is part of the Panera Brands’ portfolio consisting of complementary brands bound by common values, which also includes Panera Bread and Bagel Brands.
Paul Saber and Patrick Rogers, through Manna Development Group, plan to develop over 50 Caribou Coffee locations across Michigan. Mike Hamra and Hamra Enterprises signed a multi-unit agreement to open 24 Caribou Coffee locations throughout Missouri including the St. Louis, Springfield, and Kansas City markets.
Most recently, Caribou Coffee entered into multi-unit development agreements with Kevin Ricci and Sam Covelli, the brand’s largest domestic franchise agreements to date. Kevin Ricci, owner of Covelli Family Limited Partnership, will open 60 Caribou Coffee locations in Florida including Gainesville and along the west coast of the state from Tampa to Naples. Sam Covelli, CEO of Covelli Enterprises, and the largest franchisee of Panera Bread, has plans to open 100 Caribou Coffee locations with his children across the northern half of Ohio, western Pennsylvania, and Florida, including Orlando, and along the east coast of the state from West Palm Beach to Miami.
“Over the past 30 years, Caribou Coffee has refined and elevated the guest experience through an unwavering commitment to quality, as well as strategic investments in innovation,” said John Butcher, president and CEO of Caribou Coffee. “With a shared vision and commitment to Caribou’s core values, we’re thrilled to be further expanding our footprint nationwide alongside such experienced and passionate operators, and we look forward to supporting their success.”
As of March 28, 2023, Caribou Coffee has 330 company-owned, 141 non-traditional and 294 traditional franchise locations in 11 countries. The company is also a craft roaster and retailer of specialty bagged coffee, K-Cups and ready-to-drink products, which can be found online and in grocery stores, mass retailers, and club stores, among other outlets across the United States.