Investment group Joh. A. Benckiser (JAB) plans to buy Caribou Coffee Co Inc CBOU.O for about $340 million in cash, five months after it bought Peet's Coffee & Tea Inc PEET.O.
The investment vehicle of Germany's Reimann family has offered $16 per Caribou share, a premium of about 30 percent to the stock's Friday closing price of $12.32.
Caribou shares were trading at $16.02 on the Nasdaq in early trading on Monday, after hitting a high of $16.64, suggesting some investors may be expecting a higher bid.
JAB, whose holdings include stakes in household products maker Reckitt Benckiser Plc (RB.L) and fragrance and cosmetics company Coty Inc COTY.UL, has been expanding its presence in the coffee business.
It bought Peet's for about $1 billion in July.
Founded in 1992, Caribou Coffee Inc, which competes with Starbucks Corp (SBUX.O) and Dunkin' Brands Group Inc (DNKN.O), has 610 outlets in 22 U.S. states.
Morgan Stanley and BDT & Co advised JAB, while Moelis & Co LLC advised Caribou.
(Reporting by Siddharth Cavale in Bangalore; Editing by Sriraj Kalluvila and Don Sebastian)