It will be part of Panera’s initiative to intensify growth in new real estate channels.
Panera Bread has announced on 8 November 2017 that it has entered into a definitive agreement to acquire Au Bon Pain Holding Co. Inc., parent company of Au Bon Pain. The
Boston-based bakery-cafe chain has 304 units worldwide, and will be part of Panera’s initiative to intensify growth in hospitals, universities, transportation centers and urban locations, among others.
The acquisition will bring Au Bon Pain and Panera together again. Ron Shaich, Panera’s founder, Chairman and CEO, and his late partner Louis Kane created Au Bon Pain Co. Inc. in 1981. The company went public in 1991 and acquired Saint Louis Bread Company in 1993. Saint Louis Bread was renamed Panera and, in 1999, Au Bon Pain was sold so that all human and capital resources available at that time could be focused on Panera.
Panera founder, Chairman and CEO Ron Shaich said, “With the acquisition we are announcing today, we are bringing Au Bon Pain and Panera
together again. This acquisition offers the strategic opportunity for us to grow in several new real estate channels, including hospitals, universities, transportation centers and urban locations, among others.”
Terms of the transaction, which is expected to close during the fourth quarter, were not disclosed.
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