Peet's opens flagship cafe in DC with 22 more to follow
Peet's Coffee & Tea set its sights on DC in 2014 with a store opening this week in Washington. The 1,380-square-foot store, which used to house Caribou Coffee, will serve as the brand's flagship in Washington, with 22 additional stores to open in the months ahead. Most of them will occupy previous Caribou Coffee locations, which the parent company, Jon. A. Benckiser, purchased in a deal worth $340 million in 2012. According to the company, the goal for the new store is to create a familiar and intuitive space, while differentiating itself from national chains. Peet's, which currently operates 233 cafes, plans to open at least 60 more in 2014.