Caribou Coffee Announces Pricing of Common Stock Offering by Selling Shareholder

MINNEAPOLIS, Aug 18, 2011 (BUSINESS WIRE) -- Caribou Coffee Company, Inc. (NASDAQ:CBOU), the second largest company-owned premium coffeehouse operator in the United States based on the number of coffeehouses, today announced that the underwritten public offering of 5,150,000 shares of its common stock held by its major shareholder, Caribou Holding Company Limited, an affiliate of Arcapita Bank B.S.C.(c), has been priced at $14.25 per share. The selling shareholder has also granted the underwriters an option to purchase up to 772,245 additional shares of common stock to cover over-allotments, if any. As previously announced, the Company will not receive any proceeds from the offering. The offering is expected to close on August 23, 2011, subject to customary closing conditions.

In connection with the offering, Jefferies & Company, Inc. acted as lead book-running manager, Robert W. Baird & Co. Incorporated and William Blair & Company, L.L.C. acted as book-running managers and Craig-Hallum Capital Group LLC acted as co-manager.

A shelf registration statement (including a prospectus) relating to these securities was filed by the Company and declared effective on November 19, 2010 by the Securities and Exchange Commission (the "SEC"). A copy of the prospectus supplement and base prospectus relating to the offering may be obtained by contacting Equity Syndicate Prospectus Department, Jefferies & Company, Inc., 520 Madison Avenue, 12th Floor, New York, NY, 10022 at (877) 547-6340 and at Prospectus_Department@Jefferies.com. Before you invest, you should read these documents and other documents filed by the Company with the SEC for more complete information. You may obtain these documents free of charge by visiting the SEC's website at www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful under the securities laws of any such state or jurisdiction.

ABOUT THE COMPANY

Founded in 1992, Caribou Coffee Company, Inc., is one of the leading branded coffee companies in the United States, with a multi-channel approach to its customers. Based on the number of coffeehouses, Caribou Coffee is the second largest company-operated premium coffeehouse operator in the United States. As of July 3, 2011, the Company had 554 coffeehouses, including 147 franchised locations, in 20 states, the District of Columbia and nine international markets. Caribou Coffee offers its customers premium coffee and hand crafted espresso-based beverages, as well as specialty teas, baked goods, whole bean coffee, branded merchandise and other coffee lifestyle items. In addition, Caribou Coffee sells products to grocery stores, mass merchandisers, club stores, office coffee and foodservice providers, hotels, entertainment venues and e-commerce channels. Moreover, Caribou Coffee licenses third parties to use the Caribou Coffee brand on quality food and merchandise items. Caribou Coffee focuses on delivering a guest experience with a unique blend of expertise, fun and authentic human connection in a comfortable and welcoming coffeehouse environment. Caribou Coffee is a recipient of the Rainforest Alliance Corporate Green Globe Award and is committed to operating practices that promote sustainability and environmental protection. For more information, visit the Caribou Coffee website at www.cariboucoffee.com.

SOURCE: Caribou Coffee Company, Inc.

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