JAB Beech Inc. Completes Acquisition Of Caribou Coffee Company,
Inc.
MINNEAPOLIS, Jan. 24, 2013
/PRNewswire/ -- JAB Beech Inc. ("JAB"), a member of the Joh. A
Benckiser Group, today announced the successful completion of its
previously announced acquisition of Caribou Coffee Company, Inc.
(Nasdaq: CBOU) ("Caribou") for $16
per share, or approximately $340
million in the aggregate.
JAB acquired Caribou through a tender offer and subsequent
merger. As a result of the completion of the merger, Caribou has
become a wholly-owned subsidiary of JAB and the common stock of
Caribou ceased trading on the NASDAQ Global Select Market on
January 24, 2013.
BDT Capital Partners ("BDTCP"), a Chicago-based merchant bank that provides
long-term private capital solutions to closely held companies, is a
minority investor in this transaction alongside the Joh. A
Benckiser Group. In addition to BDTCP's capital investment, BDT
& Company served as a financial co-advisor to the Joh. A
Benckiser Group with Morgan Stanley & Co. LLC. Skadden, Arps,
Slate, Meagher & Flom LLP acted as legal advisor to the Joh. A
Benckiser Group in this transaction. Moelis & Co LLC served as
an exclusive financial advisor to Caribou in connection with this
transaction and Briggs and Morgan
P.A. acted as Caribou's legal advisor.
About The Joh. A Benckiser Group
The Joh. A Benckiser
Group is a privately held group of affiliated companies focused on
long term investments in companies with premium brands in the Fast
Moving Consumer Goods category. The Joh. A Benckiser Group's
portfolio includes a majority stake in Coty Inc., a global leader
in beauty, a majority stake in Peet's Coffee & Tea Inc., a
premier specialty coffee and tea company, a minority stake in
Reckitt Benckiser Group PLC, a global leader in health, hygiene and
home products and a minority investment in D.E Master Blenders 1753
N.V., an international coffee and tea company. The Joh. A Benckiser
Group also owns Labelux, a luxury leather goods company with brands
such as Jimmy Choo, Bally and
Belstaff. The assets of the group are overseen by its three senior
partners, Peter Harf, Bart Becht and Olivier
Goudet.
About BDT Capital Partners
BDT Capital Partners
provides family-owned and entrepreneurially led companies with
long-term capital, solutions-based advice and access to an
extensive network of world-class family businesses. Based in
Chicago, BDT Capital Partners is a
merchant bank structured to provide advice and capital that address
the unique needs of closely held businesses. The firm has a
$3 billion investment fund as well as
an investor base with the ability to co-invest significant
additional capital. Through its advisory business, BDT &
Company works with family businesses to pursue their long-term
strategic and financial objectives.
Forward-Looking Statements
This press release contains
forward-looking statements that are not historical facts and are
subject to risks and uncertainties that could cause actual results
to differ materially from those described. All statements other
than statements of historical fact are statements that could be
deemed forward-looking statements. Forward-looking statements in
this communication include statements regarding the anticipated
benefits of the transaction; statements regarding the expected
timing of the completion of the transaction; and any statements of
assumptions underlying any of the foregoing. All forward-looking
statements are based largely on current expectations and beliefs
concerning future events, approvals and transactions that are
subject to substantial risks and uncertainties. Factors that may
cause or contribute to the actual results or outcomes being
different from those expressed or implied in the forward-looking
statements include are discussed in the Company's filings with the
SEC, including in its periodic reports filed on Form 10-K and Form
10-Q with the SEC. Copies of the Company's filings with the SEC may
be obtained at the "Investors" section of the Company's website at
www.cariboucoffee.com. The forward-looking statements made in this
communication are made only as of the date of this communication,
and the Company undertakes no obligation to update them to reflect
subsequent events or circumstances.
SOURCE JAB Beech Inc.