Acquisition of Caribou Coffee Company, Inc. by Joh. A. Benckiser Group May Not Be in Caribou's Shareholders' Best Interests

Acquisition of Caribou Coffee Company, Inc. by Joh. A. Benckiser Group May Not
                 Be in Caribou's Shareholders' Best Interests

PR Newswire

SAN DIEGO and MINNEAPOLIS, Dec. 18, 2012

SAN DIEGO and MINNEAPOLIS, Dec. 18, 2012 /PRNewswire/ --Shareholder rights
attorneys at Robbins Umeda LLP are investigating possible breaches of
fiduciary duty and other violations of the law by members of the board of
directors of Caribou Coffee Company, Inc. (NASDAQ: CBOU) in connection with
their efforts to sell the company to an affiliate of Joh. A. Benckiser Group.
Caribou Coffee is the second-largest company-owned coffeehouse operator in the
United States.


On December 17, 2012, Caribou Coffee and the Benckiser Group announced they
had entered into a definitive merger agreement under which the Benckiser Group
will acquire Caribou Coffee through an all cash tender offer that valued the
company at $324.8 million. Caribou Coffee shareholders will receive $16 per
share. The transaction is expected to close in the first half of 2013.

The Board of Directors' Actions May Prevent Caribou Coffee Shareholders from
Receiving the Maximum Value for Their Stock

Robbins Umeda LLP's investigation focuses on whether the board of directors at
Caribou Coffee is undertaking a fair process to obtain maximum value and
adequately compensate its shareholders. The $16 per share offer is
substantially below the $18.84 per share price the Company's stock traded as
recently as April 2, 2012, and is well below recent target prices set by
multiple analysts. Specifically, an analyst at Craig-Hallum has maintained a
target price of $19 per share since August 7, 2012, while an analyst at
Longbow Research set a $17 per share price on December 12, 2012. Further, on
November 8, 2012, Caribou Coffee announced its third quarter 2012 financial
results, reporting earnings per share estimates that exceeded analysts' for
the eighth consecutive quarter. The company also reported coffeehouse sales of
$61.0 million, a 4% increase compared to the third quarter of 2011 and that
franchise sales for the third quarter 2012 increased to $4.3 million, or 45%,
compared to the third quarter of 2011. Given these facts, the firm is
examining whether the board of directors' decision to sell Caribou Coffee for
$16 per share is fair to shareholders and it maximizes the value for their

Caribou Coffee shareholders have the option to file a class action lawsuit
against the company to secure the best possible price for shareholders and to
ensure disclosure of material information so shareholders can make an informed
decision on whether to tender their shares in the tender offer. Caribou Coffee
shareholders interested in information about their rights and potential
remedies can contact Darnell R. Donahue at (800) 350-6003,, or via the shareholder information form on the
firm's website.

Robbins Umeda LLP is a nationally recognized leader in securities litigation
and shareholder rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action lawsuits, and
has helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. For more information, please go

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Attorney Advertising.Past results do not guarantee a similar outcome.

Robbins Umeda LLP
Darnell R. Donahue
(619) 525-3990 or Toll Free (800) 350-6003

SOURCE Robbins Umeda LLP

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