Particle.news
Download on the App Store
4 ARTICLES
·
3w ago

Caribou Coffee Appoints Scott Kennedy as President and CEO

The finance veteran is tasked with disciplined growth following the brand’s $260 million shift of roasting to JDE Peet’s.

At the Caribou Coffee shop in the U.S. Bank building in downtown Minneapolis, customers in Minnesota will continue to see the Caribou Coffee brand while 88 stores East will be converted to Peet's Coffee & Tea .
Image
Image

Overview

  • The board made the appointment effective immediately, ending Kennedy’s interim tenure that began in March 2025 after John Butcher’s exit.
  • Kennedy joined Caribou as CFO in 2019 and previously led financial and retail services at Target after a long stint at KPMG.
  • Board chairman José Cil said the company expects Kennedy to strengthen team culture and deliver consistently strong guest experiences.
  • Caribou counts roughly 800 coffeehouses across 11 countries, including 487 units in the United States, according to company disclosures.
  • Following a 2024 $260 million licensing of roasting and packaged coffee to JDE Peet’s, the brand is concentrating on retail cafes as rising coffee bean prices sharpen the focus on cost discipline.