Premium coffeehouse brand intends to implement
restaurant technology platform at 500 locations across the United
States
Toast (NYSE: TOST), the digital technology platform built for
restaurants, today announced an agreement with Caribou Coffee to
implement Toast Enterprise Solutions across 500 initial coffeehouse
locations in the United States. In addition to Toast point-of-sale
(POS) terminals, Caribou Coffee will use Toast Payments, Kitchen
Display Systems (KDS), and Multi-Location Management.
Caribou Coffee has made significant progress in its retail
expansion plan through company-owned development as well as its
previously announced franchise program. To help support the brand’s
growing coffeehouse footprint, Caribou Coffee sought a modern
technology partner with a robust, scalable POS solution that would
be easy to use for all stakeholders including company and
franchisee operators and team members. Focused on maximizing speed
of service while maintaining an enhanced guest and team experience,
Caribou Coffee also wanted to ensure availability of key features
to support guests like the ability to modify active orders and
offer flexible payment options.
“Caribou Coffee was founded over 30 years ago with a vision to
bring personal service into the coffeehouse space. That commitment
to our guest and team member experience guides us today as we
announce this exciting partnership. Toast proved to be the ideal
strategic technology partner for our brand as we introduce tools
that will ensure we can bring our coffeehouse experience to more
guests than ever before,” said Scott Kennedy, Chief Financial
Officer at Caribou Coffee. “Toast took the time to understand our
business and clearly demonstrate that they can support our team
members and guests with their easy to use, easy to manage
platform.”
“Like Caribou Coffee, Toast is similarly committed to supporting
the ‘day making’ experiences our customers want to deliver,
offering innovation and operational efficiencies to help
differentiate brands in the market, and providing the foundations
for scale that fast-growing, tech-forward brands need,” said Kelly
Esten, Senior Vice President and General Manager, Enterprise at
Toast. “We are thrilled to be working with Caribou Coffee as they
bring such a beloved brand to new markets across the U.S.”
Toast currently serves hundreds of multi-unit brands, including
Craveworthy Brands, Nothing Bundt Cakes, Papa Gino's &
D’Angelo, The Human Bean, Bar Louie, Costa Vida Fresh Mexican
Grill, and Juice It Up!, among others. For more information about
Toast and its enterprise capabilities, visit our Toast for
Enterprise page.
About Toast
Toast [NYSE: TOST] is a cloud-based, all-in-one digital
technology platform purpose-built for the entire restaurant
community. Toast provides a comprehensive platform of software as a
service (SaaS) products and financial technology solutions that
give restaurants everything they need to run their business across
point of sale, payments, operations, digital ordering and delivery,
marketing and loyalty, and team management. We serve as the
restaurant operating system, connecting front of house and back of
house operations across service models including dine-in, takeout,
delivery, catering, and retail. Toast helps restaurants streamline
operations, increase revenue, and deliver amazing guest
experiences. For more information, visit www.toasttab.com.
About Caribou Coffee
Caribou Coffee provides high-quality, handcrafted coffee-forward
beverages and craveable food options in more than 800 coffeehouses
worldwide. Known for a commitment to sustainable practices and
making a difference, Caribou Coffee serves 100% Rainforest Alliance
Certified coffee beans and crafts each menu item with the purpose
to create day-making experiences. This passion for premium is also
why Caribou Coffee makes every handcrafted beverage with only
high-quality ingredients, like real chocolate chips, and no
artificial flavors, colors, sweeteners, or preservatives.
Caribou Coffee has 333 company-owned, 140 non-traditional and
338 franchise locations in 11 countries, as of December 26, 2023.
Caribou Coffee is part of Panera Brands, a portfolio of
complementary brands bound by common values, comprising Panera
Bread®, Caribou Coffee® and Einstein Bros.® Bagels. To learn more
about Caribou Coffee, visit CaribouCoffee.com.
Forward-looking Statements
This press release contains “forward-looking statements,” within
the meaning of Section 27A of the Securities Act of 1933, Section
21E of the Securities Exchange Act of 1934 and the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the context of the statement and
generally arise when Toast or its management is discussing its
beliefs, estimates or expectations. Such statements generally
include the words “believes,” “plans,” “intends,” “targets,” “may,”
“could,” “should,” “will,” “expects,” “estimates,” “suggests,”
“anticipates,” “outlook,” “continues,” or similar expressions.
These statements are not historical facts or guarantees of future
performance, but represent the beliefs of Toast and its management
at the time the statements were made regarding future events which
are subject to certain risks, uncertainties and other factors, many
of which are outside Toast’s control. Actual results and outcomes
may differ materially from what is expressed or forecast in such
forward-looking statements. Forward-looking statements include,
without limitation, statements regarding the agreement between
Toast and Caribou Coffee and its impact on Toast’s business and
operations, and the planned and future implementation of the Toast
platform at Caribou Coffee.
The forward-looking statements contained in this release are
also subject to other risks and uncertainties, including those more
fully described in Toast’s filings with the Securities and Exchange
Commission (“SEC”), including in the sections entitled “Risk
Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations'' in Toast’s Annual Report on
Form 10-K for the year ended December 31, 2022, Toast’s Quarterly
Report on Form 10-Q for the three months ended September 30, 2023,
and Toast’s subsequent SEC filings. Toast can give no assurance
that the plans, intentions, expectations or strategies as reflected
in or suggested by those forward-looking statements will be
attained or achieved. The forward-looking statements in this
release are based on information available to Toast as of the date
hereof, and Toast disclaims any obligation to update any
forward-looking statements, except as required by law. These
forward-looking statements should not be relied upon as
representing Toast’s views as of any date subsequent to the date of
this press release.
TOST-CORP
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