Wednesday, February 2, 2011

Caribou Coffee: Ending My Boycott

In the past, I have been boycotting Caribou Coffee because they were bought out and majority owned by Arcapita (formerly First Islamic Bank of Bahrain). As part of their ownership, Arcapita required Caribou Coffee to have an official policy of adhering to Sharia (Islamic law) with regards to their business, whicn included bans on interest and pork.

Even though Caribou was certified to not be supporting overseas groups involved in terrorism, I did not want to support Arcapita's middle-eastern Muslim investors, so I refused to patronize them.

However, I am changing my position. According to this article, Arcapita has sold a large portion of its shares in Caribou, and now only owns about 25% of the company. Arcapita may be the largest single shareholder, however, the public now owns most of the company.

By the way, you still can't get pork at Caribou, in case you were wondering.


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