Are Caribou's financial statements included as Exhibit I in the Brueggers Bagels FDD?
Brueggers_Bagels Franchise · 2025 FDDAnswer from 2025 FDD Document
The financial statements listed below are attached to this disclosure document as Exhibit I:
Caribou's* audited financial statements as of December 31, 2024 and December 26, 2023 and for each of the years ended December 31, 2024, December 26, 2023, and December 27, 2022.
* Caribou guarantees our obligations to our franchisees, and a copy of that guarantee is attached at Exhibit I. Caribou's fiscal year ends on the Tuesday closest to December 31 each year.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 61)
What This Means (2025 FDD)
According to Brueggers Bagels' 2025 Franchise Disclosure Document, Caribou's audited financial statements are included as Exhibit I. Specifically, the exhibit contains Caribou's audited financial statements as of December 31, 2024, and December 26, 2023, and for each of the years ended December 31, 2024, December 26, 2023, and December 27, 2022.
This is relevant to a prospective Brueggers Bagels franchisee because Caribou Coffee Company, Inc. guarantees Brueggers Bagels' obligations to its franchisees. A copy of that guarantee is also included in Exhibit I. The inclusion of these financial statements provides transparency into the financial health of Caribou, the parent company of Brueggers Bagels, and the guarantor of the franchise obligations.
It is important to note that Caribou's fiscal year ends on the Tuesday closest to December 31 each year. Reviewing these statements can help potential franchisees assess the financial stability and performance of the parent company and understand the basis for the guarantee provided to Brueggers Bagels franchisees.