Einstein Bros. Bagels

Last updated

Einstein Bros. Bagels
Company typePrivate
Industry Quick-casual [1] restaurant
FoundedDecember 1995;28 years ago (1995-12)
Golden, Colorado, U.S.
Headquarters Lakewood, Colorado, U.S.
Owner JAB Holding Company
Parent Einstein Noah Restaurant Group, Inc. [1]
Website EinsteinBros.com

Einstein Bros. Bagels is an American chain of bagel cafes. In the 1990s, the company bought out several retail bagel chains from regions around the US which lacked bagel traditions. After filing for bankruptcy in 2000, the company was bought out by New World Coffee. It became part of Panera Brands in August 2021.

Contents

History

Einstein Bros. was created by the chain restaurant corporation Boston Chicken (now Boston Market) in 1995, as a way to market breakfast foods. The chain is now owned by Panera Brands. [1] [2]

Boston Chicken, Inc. originally formed the Einstein and Noah Bagel Corporation as Progressive Bagel Concepts, Incorporated (PBCI) in March 1995, when it purchased four retail bagel chains, all located in regions of the United States that did not have longstanding bagel traditions. These companies included Offerdahl's Bagel Gourmet, Incorporated (Fort Lauderdale), Bagel & Bagel, Incorporated (Kansas City), Baltimore Bagel (San Diego), and Brackman Brothers, Incorporated (Salt Lake City). Each found that their stores were similar in that they offered both original and new bagel flavors in wealthy neighborhoods where the customers had relatively little previous exposure to bagels. [3]

Noah's Bagels was founded in 1989 by Noah Alper on College Avenue in Berkeley, California. [4] In 1996, the chain of 38 stores was sold to Einstein Bros. for $100 million. [5]

Noah's Bagels was bought out by Einstein. Noah's Bagel Coffee Cup (15652697676).jpg
Noah's Bagels was bought out by Einstein.

Acquisition by New World Coffee

New World Coffee was founded in the early 1990s by Ramin Kamfar, an investment banker who left his finance career to open a coffee shop. [6] It bought Manhattan Bagel out of bankruptcy in 1998. [7] The combined company purchased Chesapeake Bagel Bakery in 1999 when that chain had 89 stores, giving Manhattan approximately 350 locations. [8]

In 2000, Einstein Bros. filed for bankruptcy, having loaned too much money to franchisees. [6] After it declared bankruptcy, New World Coffee, which had earlier attempted an unsuccessful hostile takeover, bought the company out of bankruptcy for $190 million. [9]

Other acquisitions and mergers

In 2014, Einstein Noah Restaurant Group was acquired by JAB Holding Company and BDT Capital Partners. [10]

On August 5, 2021, Einstein Bros. announced that it had merged with Panera Bread and Caribou Coffee to form Panera Brands. [11]

See also

Related Research Articles

<span class="mw-page-title-main">Boston Market</span> Chain of American fast casual restaurants

Boston Market Corporation, known as Boston Chicken until 1995, is an American fast casual restaurant chain headquartered in Golden, Colorado. Since 2020, it has been owned by the Rohan Group.

<span class="mw-page-title-main">Panera Bread</span> American restaurant chain specializing in soups, salads and sandwiches

Panera Bread is an American chain store of bakery-café fast food restaurants with over 2,000 locations, all of which are in the United States and Canada. Its headquarters are in Sunset Hills, Missouri. The chain operates as Saint Louis Bread Company in the Greater St. Louis area, where it has over 100 locations.

<span class="mw-page-title-main">Bruegger's</span> Restaurant operator in the United States

Bruegger's Enterprises, Inc. is a restaurant operator and subsidiary of the Luxembourg-based company JAB Holding Company. It and its wholly owned subsidiary Threecaf Brands Canada, Inc., are franchisers and operators of Bruegger's bakery-cafés, and Michel's Baguette.

<span class="mw-page-title-main">Caribou Coffee</span> American coffee shop chain

Caribou Coffee Company is an American coffee company and coffeehouse chain. It was founded in Edina, Minnesota, in 1992. As of September 2023, the company operates over 750 locations worldwide. It is headquartered in Brooklyn Center, Minnesota.

<span class="mw-page-title-main">Au Bon Pain</span> American bakery and cafe chain

Au Bon Pain is an American fast casual restaurant, bakery, and café chain headquartered in Richardson, Texas, which operates 175 locations in the United States, Thailand, and Taiwan. The company is currently owned by AMPEX Brands.

<span class="mw-page-title-main">Lender's Bagels</span> Brand of bagels

Lender's Bagels is a brand of bagels that pioneered the pre-packaged bagel industry in the United States. Established in 1927 in New Haven, Connecticut, by the Lender family, it became a North American leader in the marketing, distribution and sales of bagels. Lender's introduced frozen bagels and sold the first packaged bagels in supermarkets, eventually becoming the world's biggest bagel producer. The company was sold to Kraft Foods in 1984. In 2003, it became part of Pinnacle Foods. In 1994 it began production of room-temperature fresh bagels. In 2012, Lender's revenue was about $70 million.

<span class="mw-page-title-main">Dunn Brothers Coffee</span>

Dunn BrothersCoffee is a franchise company of coffeehouses founded in St. Paul, Minnesota, in December 1987 by brothers Ed and Dan Dunn. As of December 2023, Dunn Brothers Coffee has 52 locations in Iowa, Minnesota, Missouri, North Dakota, South Dakota, Texas, and Wisconsin.

mmmuffins Canadian restaurant chain

Marvellous Mmmuffins, also known as mmmuffins, was a Canadian restaurant chain that sold coffee and muffins. It was established in 1979 and granted its first franchise in 1980.

<span class="mw-page-title-main">Big Apple Bagels</span> American franchised chain

Big Apple Bagels is an American franchised chain of bakery-cafes based in Deerfield, Illinois. Coffee, along with a variety of other related products are sold. The products are sold as three different brands: Big Apple Bagels, Brewster's Coffee, and My Favorite Muffin.

<span class="mw-page-title-main">Paradise Bakery & Café</span> Arizona based casual restaurant chain

Paradise Bakery & Café is a Scottsdale, Arizona-based chain of bakery–café quick casual restaurants predominantly located in the western and southwestern United States. It was independently established in 1976; as of 2009, it is wholly owned by Panera Bread. As of early 2012, it operates 60 stores in 9 states.

JAB Holding Company is a German conglomerate, headquartered in Luxembourg, that includes investments in companies operating in the areas of consumer goods, coffee, luxury fashion, animal health, and fast food, among others.

John M. Maguire is an American businessman and restaurateur, and the former president and CEO of Friendly's, a position he from April 12, 2012.

Ann Willoughby is an American graphic designer and founder of Willoughby Design Group based in Kansas City, Missouri.

<span class="mw-page-title-main">Soup and sandwich</span> Combination meal of a soup and a sandwich popular in the United States

The soup and sandwich combination meal consists of a soup accompanied by a sandwich. It has been a popular meal in the United States since the 1920s. Some U.S. restaurant chains specialize in the meal, and it has been mass-produced as a prepared frozen meal.

<span class="mw-page-title-main">Tatte Bakery & Café</span> American restaurant chain

Tatte Bakery & Café is an American-Mediterranean gourmet fast-casual bakery and café founded by Israeli-born Tzurit Or. Tatte operates 35 locations, most in the Boston area, with the remainder in the metro D.C. region.

<span class="mw-page-title-main">Ron Shaich</span> American businessman

Ronald M. Shaich is an American businessman, entrepreneur, investor, and best-selling author who co-founded and built Au Bon Pain Inc., and later, founded Panera Bread, both of which he served as CEO and chairman. Under Shaich's leadership, from 1997 to 2017, Panera Bread was the best-performing public restaurant stock, performing two times better than Starbucks, six times better than Chipotle, and performing 44 times better than the S&P 500 with 25% annualized returns. Shaich sold Panera Bread for $7.5 billion in 2017.

References

  1. 1 2 3 "Einstein Noah Restaurant Group, Inc. -- Welcome". Archived from the original on July 15, 2015. Retrieved July 14, 2015.
  2. ↑ Ruddy, Edward (August 5, 2021). "Panera Bread, Caribou Coffee and Einstein Bros. Bagels Unite as Panera Brands, Creating a Best-in-Class, Market Leading Fast Casual Platform". www.businesswire.com. Retrieved November 9, 2021.
  3. ↑ Portable, versatile, tasty: Reasons we like our bagels Bakery' s offerings include nontraditional chocolate chip The Dallas Morning News – Wednesday, November 13, 1996 Author: Kendall Morgan, Staff Writer of The Dallas Morning News
  4. ↑ Annie Sciacca (February 8, 2018). "East Bay-born Noah's Bagels eyes a comeback". Mercury News.
  5. ↑ Ilana DeBare (December 9, 2009). "Bagel firm founder tells what Noah would do". San Francisco Chronicle.
  6. 1 2 Kelly Pate (July 2, 2001). "Former Investment Banker's Coffee Shop Grows into Largest U.S. Bagel Chain". Denver Post.
  7. ↑ "New World Coffee buys Manhattan Bagel". United Press International. July 29, 1998. Archived from the original on September 14, 2011.
  8. ↑ "Homegrown Chesapeake Bagel to Get New Owner". Washington Post. July 28, 1999.
  9. ↑ Terry Brennan (June 4, 2001). "New World wins fight for bagel maker". The Daily Deal.
  10. ↑ Alden, William (September 29, 2014). "Bagel Maker Einstein Noah Sold to German Firm for $374 Million". The New York Times. Retrieved January 18, 2015.
  11. ↑ Ruddy, Edward (August 5, 2021). "Panera Bread, Caribou Coffee and Einstein Bros. Bagels Unite as Panera Brands, Creating a Best-in-Class, Market Leading Fast Casual Platform". www.businesswire.com. Retrieved November 9, 2021.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.