Caribou Coffee to enter South Korea

USA Coffee chain Caribou Coffee has inked a franchise agreement in South Korea with E&Z Coffee which will see "at least" 25 coffee shops opened over the next five years.

"We found a very good group to be partners with," says Michael Coles, Caribou Coffee Chief Executive. "It is an entry into the Asian market which is a very important part of the world and a very strong market for coffee."

E&Z Coffee has held franchises for T.G.I. Friday's Worldwide and Outback Steakhouse restaurants. The company plans to open its first Caribou Coffee outlet in Seoul in early 2007.

Earlier this year Caribou Coffee launched its flagship outlet in the Middle East, with locations now trading in Kuwait and Dubai, UAE.