Where can I find Caribou's guarantee of Brueggers Bagels' obligations to franchisees?

According to Brueggers Bagels's 2025 Franchise Disclosure Document, Caribou Coffee Company, Inc. guarantees Brueggers Bagels' obligations to its franchisees. The document indicates that a copy of this guarantee is included as Exhibit I to the FDD. Therefore, prospective Brueggers Bagels franchisees can find the specific details and terms of Caribou's guarantee within Exhibit I of the 2025 FDD.

This guarantee is significant for potential Brueggers Bagels franchisees because it provides an added layer of financial security. With Caribou Coffee Company, Inc. backing the obligations, franchisees have recourse to Caribou should Brueggers Bagels fail to meet its financial or contractual duties. This reduces the risk for franchisees, as they are not solely reliant on the financial stability of Brueggers Bagels itself.

Exhibit I includes 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. Reviewing these statements can give a franchisee insight into the financial health of the guarantor. The fiscal year for Caribou ends on the Tuesday closest to December 31 each year.

Prospective franchisees should carefully review the guarantee within Exhibit I to understand the scope and limitations of Caribou's obligations. It is important to consult with a legal and financial advisor to fully assess the implications of this guarantee and how it affects their investment in a Brueggers Bagels franchise.