Caribou Coffee Company, Inc., Minneapolis, MN, is the second largest U.S. operator of coffee gathering places. Caribou has expanded to over 500 locations including 200 franchised locations, in 18 states, the District of Columbia and ten international markets. Northwood participated in the company’s first two institutional rounds of financing, beginning in 1995, and sold its position for cash in 2000 to another private equity firm. Caribou subsequently completed a $68 million IPO in 2005 (NASDAQ: CBOU). In 2013 Caribou was taken private by an investment firm.