Long Grove Caribou Coffee to Get New Name

Long Grove's Caribou Coffee shop will soon have a new name.

The new owner of the Caribou chain plans to close 80 stores and convert another 88 into Peet's Coffee & Tea. The converted stores will include the Long Grove shop, according a store employee. The store just opened in December in the Sunset Grove shopping center.

Also coming under the Peet's name is a Caribou on Dundee Road in Arlington Heights. A second Arlington Heights location, along with stores in Palatine and Barrington, are closing, employees told Patch. The Vernon Hills location is also closing, according to the Chicago Tribune.

The Minneapolis-based chain recently went private in a $340 million deal with Joh. A. Benkiser, a German investment company, according to the Chicago Tribune.