Despite being listed in marketing materials of commercial developer The Peterson Companies to promote the new retail facility the Promenade at Virginia Gateway, Caribou Coffee will not be a tenant.
Recently, it was reported that 80 Caribou Coffees across the country will close in coming months, and another 88 will be converted to Peet’s Coffee & Tea.
Virginia is one of several states, including Ohio, Michigan, Pennsylvania, Maryland, Georgia, Illinois and Wisconsin where Caribou stores will be converted or closed. Stores in D.C. will also be affected by this change.
While Manager of Braemar Plaza's Caribou Coffee Katie Neblel said that all stores remaining open, such as her Caribou Coffee in Braemar will be converted to Peet's Coffee & Tea, she could not could not comment on the future of the planned Gainesville location last month. However, The Peterson Companies confirmed that the chain will not open a coffee shop at the new complex.
According to sources, the restructuring of Caribou Coffee resulted from the acquisition of Caribou by the German private equity firm, Joh. A. Benckiser Group GmbH, which recently made Caribou a private company. Because Benckiser Group already owns a majority stake in Peet’s, they will replace Caribou with Peet’s in some regions.
Neblel said she did not yet know the time frame for renovating the Braemar Caribou and converting it into a Peet's.
Support Bristow Beat - Donate Today!