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Coffee retailers rise after acquisition of Caribou Coffee

A number of retailers that specialize in selling coffee are advancing after Germany's Joh. A. Benckiser Group announced earlier today that it would acquire Caribou Coffee Company (CBOU) for $16 per share, or about $340M. The deal represents a premium of about 30% over Caribou's closing stock price on Friday. Caribou had about 581 coffeehouses, including 169 franchised locations, in the U.S. as of January 1, 2012, according to Reuters. In late morning trading, Starbucks (SBUX) climbed 1.80% to $54.32, Dunkin Brands (DNKN) increased 2.50% to $32.45, Einstein Noah (BAGL) gained 2.39% to $16.02 and Panera Bread (PNRA) rose 1.44% to $160.46.