Au Bon Pain Explained

Trade Name:Au Bon Pain
ABP OPCO, LLC.
Type:Subsidiary
Industry:Fast-casual restaurant, bakery, and café
Founded: in Boston
Hq Location City:Richardson, Texas
Hq Location Country:United States
Locations:171 (2021)[1]
Owner:AMPEX Brands

Au Bon Pain (in French pronounced as /o bɔ̃ pɛ̃/, meaning "at the good bread"[2]) 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.[3] The company is currently owned by AMPEX Brands.

Au Bon Pain serves baked goods such as bread, pastries, croissants, bagels; tea, coffee, and espresso beverages; breakfast foods such as egg sandwiches; and lunch items such as soups, salads, and sandwiches. The company also offers catering services.[4]

Most Au Bon Pain locations are on the East Coast of the United States, with franchise locations in 17 states around the country.[5]

History

Pavailler,[6] a French manufacturer of baking equipment, established the company as a showcase for its ovens in 1976 at Faneuil Hall in Boston. The company's principals included Louis Rapuano, Pavailler, and two minor investors; Pavailler contributed baking machinery to the venture. Au Bon Pain sold croissants, pastries, and bread produced by French bakers. In 1977, it opened stores in Hackensack, New Jersey and New York City.[7]

In 1978, Au Bon Pain was acquired by Louis I. Kane, a venture capitalist who liked how its products smelled, for (equivalent to million in). The business model was changed to sell baked goods instead of ovens.[3] Francois Marin was hired to open and manage the first Au Bon Pain in Boston's Quincy Market.[8]

By 1980, Au Bon Pain had over (equivalent to million in) in sales but was still losing money.[9] [10] [11]

In 1981, the company was suffering from debt and on the verge of bankruptcy, and Ronald M. Shaich and his father acquired a 60% stake.[10]

In 1991, Au Bon Pain was listed on the stock market via an initial public offering.[12]

In 1993, the brand acquired Saint Louis Bread Company, the predecessor of Panera Bread, for (equivalent to million in).[10] [12] [13] [14] It also acquired the U.S. bakery locations of Warburtons, which were converted to Au Bon Pain stores.[15]

In 1996, the company announced plans to upgrade the interior of its stores after reporting a loss.[16]

In 1997, Au Bon Pain considered opening locations in Peru.[17]

In 1999, Au Bon Pain Co. Inc. (later renamed Panera Bread) sold its Au Bon Pain division to Bruckmann, Rosser, Sherrill & Co. In 2000, it was sold to Compass Group.[18]

In 2000, the company reached a franchise agreement with Gourmet Coffee Co. Ltd. of Taiwan to open the first locations of Au Bon Pain in Taipei.[19]

Au Bon Pain had a store in the underground shopping mall at the World Trade Center in New York. This location, like many other shops in the mall, was destroyed in the September 11 attacks in 2001.[20]

In 2005, Au Bon Pain management, in partnership with PNC Financial Services, purchased 75% of the company; Compass Group retained the remaining 25%.[21]

In March 2008, LNK Partners, a private equity firm, acquired a controlling interest in the company.[22]

In 2011, all of its locations were renovated in a major remodeling program.[23]

In 2012, the number of Au Bon Pain locations peaked at over 200.

In 2013, the company announced that by 2017, it would only use free-range eggs.[24]

In 2014, under the leadership of Sue Morelli, Au Bon Pain was named one of the top female-led businesses in Massachusetts.[25]

In January 2015, Au Bon Pain hired Katherine See as its executive chef.[26]

In June 2016, Morelli retired, and Ray Blanchette was named president and CEO.[27]

On November 8, 2017, Panera Bread announced the acquisition of Au Bon Pain, which had split off from Panera in 1999 after being created in 1981.[28] [29] [30] Following the deal, Ron Shaich stepped down as the chief executive, to be succeeded by Blaine Hurst, Panera's president.[31]

In December 2019, Au Bon Pain closed its last remaining Cambridge, Massachusetts store, ending over 35 years of business in their former flagship city.[32]

In June 2021, AMPEX Brands purchased the chain from Panera Bread in a deal that included around $60 million in assets. The agreement ensured the preservation of the Au Bon Pain brand in light of the closing and conversion of various Au Bon Pain locations into Panera Bread stores. AMPEX Brands declined to disclose the exact value of the deal but confirmed the inclusion of assets and franchise rights for 131 additional locations.[33] [34] AMPEX Brands also concurrently announced the move of the company's headquarters from Boston to its own headquarters in Texas.[35] [36]

Decreased urban foot traffic caused by the COVID-19 pandemic resulted in more closures, leaving only 123 stores in the United States. After a long downward trend, new locations started opening again under the new ownership, starting in a Macy's in Queens Center Mall.[37]

In 2024, the last location in Boston, in the South Station train terminal, closed.[38]

See also

Notes and References

  1. Web site: Lucas . Amelia . June 30, 2021 . 7-Eleven and Yum Brands franchisee buys bakery-cafe chain Au Bon Pain . live . https://web.archive.org/web/20211109140622/https://www.cnbc.com/2021/06/30/yum-brands-franchisee-ampex-brands-buys-au-bon-pain-.html . November 9, 2021 . March 20, 2022 . CNBC.
  2. Web site: King . Christina B . March 14, 2013 . 1992-06-24 . AU BON PAIN Trademark of ABP OPCO LLC – Registration Number 1757444 – Serial Number 74287859 : Justia Trademarks . live . https://web.archive.org/web/20181028073804/https://trademarks.justia.com/742/87/au-bon-74287859.html . October 28, 2018 . March 19, 2022 . Justia.
  3. Web site: About Us Au Bon Pain . live . https://web.archive.org/web/20220318195342/https://www.aubonpain.com/about . March 18, 2022 . March 19, 2022 . Au Bon Pain.
  4. Web site: Catering Au Bon Pain . live . https://web.archive.org/web/20220318195344/https://www.aubonpain.com/catering . March 18, 2022 . March 19, 2022 . Au Bon Pain.
  5. Web site: All Locations Au Bon Pain. live. April 5, 2024. https://web.archive.org/web/20240405010552/https://www.aubonpain.com/stores/all-stores. April 5, 2024. Au Bon Pain.
  6. Web site: Bakery and pastry ovens – Pavailler . live . https://archive.today/20220319211204/https://www.pavailler.fr/en/?lang=en . March 19, 2022 . March 19, 2022 . Pavailler.
  7. McNiff . Veronica . September 19, 1977 . [{{GBurl|id=jeMCAAAAMBAJ|p=48}} Bakery: Au Bon Pain ]. Architecture: Tomorrowland Today . . 10 . 38 . 0028-7369 . 50754475 . January 6, 2020 . Google Books.
  8. News: Kolnos . Jason . February 29, 2004 . Serving up fun: Francois Marin, retired founder of Au Bon Pain chain turns attention to volleyball league for seniors . . live . subscription . March 19, 2022 . https://archive.today/20220319212926/https://www.capecodtimes.com/story/news/2004/02/29/serving-up-fun/50942434007/ . March 19, 2022.
  9. News: Stewart . Brandi . December 7, 2007 . Pastry parlay: From Au Bon Pain to Panera; How Panera Bread founder Ron Shaich sold his first business to build his second . . live . March 19, 2022 . https://web.archive.org/web/20190328010349/https://money.cnn.com/2007/12/06/smbusiness/panerabread.fsb/ . March 28, 2019.
  10. News: Kowitt . Beth . July 17, 2012 . A founder's bold gamble on Panera . . live . March 19, 2022 . https://web.archive.org/web/20190327090828/https://archive.fortune.com/2012/07/17/smallbusiness/panera-ron-shaich.fortune/index.htm . March 27, 2019.
  11. Panera founder Ron Shaich '76 to speak at commencement, May 18 . March 26, 2014 . March 19, 2022 . live . https://web.archive.org/web/20210224183358/https://clarknow.clarku.edu/2014/03/26/panera-founder-ron-shaich-76-to-speak-at-commencement-may-18/ . February 24, 2021 . Clark University.
  12. Panera Bread Announces Definitive Agreement to Acquire Au Bon Pain . November 8, 2017 . March 19, 2022 . live . https://web.archive.org/web/20190412234727/https://www.globenewswire.com/news-release/2017/11/08/1178047/0/en/Panera-Bread-Announces-Definitive-Agreement-to-Acquire-Au-Bon-Pain.html . April 12, 2019 . Panera Bread . Panera Bread . Globe Newswire.
  13. News: Deagon . Brian . January 25, 2010 . Panera's Ron Shaich Really Rolls in the Dough . . live . March 19, 2022 . https://web.archive.org/web/20200928124635/https://a3h-content.s3.us-east-2.amazonaws.com/old_articles/70ce7ad796.pdf . September 28, 2020.
  14. News: November 12, 1993 . Au Bon Pain to Acquire Saint Louis Bread Company . . . subscription . March 19, 2022.
  15. News: January 25, 1993 . Au Bon Pain bakery cafes take over Warburtons restaurants . . . live . March 20, 2022 . https://web.archive.org/web/20181029071547/https://www.upi.com/Archives/1993/01/25/Au-Bon-Pain-bakery-cafes-take-over-Warburtons-restaurants/3038727938000/ . October 29, 2018.
  16. News: October 7, 1996 . Au Bon Pain Stock Drops 11% on News That Loss Is Expected . . Boston . subscription . March 20, 2022.
  17. News: October 12, 1997 . U.S. Bakery Chain Au Bon Pain May Open Operations in Peru . The Wall Street Journal . Associated Press . . subscription . March 20, 2022.
  18. News: Goodison . Donna L. . December 4, 2000 . Au Bon Pain acquisition may be near . . live . March 20, 2022 . https://web.archive.org/web/20060215183523/http://www.bizjournals.com:80/boston/stories/2000/12/04/story1.html . February 15, 2006 . 1943-6343.
  19. News: Goodison . Donna L. . April 3, 2000 . Au Bon Pain to serve its concept in Taiwan's capital city . Boston Business Journal . live . March 20, 2022 . https://web.archive.org/web/20021218074800/http://www.bizjournals.com:80/boston/stories/2000/04/03/newscolumn3.html . December 18, 2002 . 1943-6343.
  20. Web site: Port Authority: World Trade Center . https://web.archive.org/web/20010421023017/http://www.panynj.gov/wtc/wtcsfram.HTM . April 21, 2001 .
  21. News: Stempel . Jonathan . Dorfman . Brad . January 16, 2008 . LNK to buy majority stake in Au Bon Pain . . live . March 20, 2022 . https://web.archive.org/web/20181029112248/https://www.reuters.com/article/aubonpain/update-2-lnk-to-buy-majority-stake-in-au-bon-pain-idUSN1638706320080116 . October 29, 2018.
  22. Au Bon Pain Acquisition by LNK Partners and Management Closes . March 5, 2008 . March 20, 2022 . . . . subscription.
  23. Au Bon Pain Launches Cafe Remodel Program as Part of National Expansion Strategy; Transforms New York City Cafes . June 8, 2011 . March 20, 2022 . live . https://web.archive.org/web/20181029112304/https://www.prnewswire.com/news-releases/au-bon-pain-launches-cafe-remodel-program-as-part-of-national-expansion-strategy-transforms-new-york-city-cafes-123448174.html . October 29, 2018 . PR Newswire.
  24. Au Bon Pain Continues Shift to Eggs from Cage-Free Hens; Commits to 100% Gestation Crate–Free for Pork . January 21, 2013 . March 20, 2022 . live . https://web.archive.org/web/20181029112233/https://www.businesswire.com/news/home/20130121005719/en/Au-Bon-Pain-Continues-Shift-Eggs-Cage-Free . October 29, 2018 . . Boston.
  25. News: October 25, 2014 . 2014 Top 100 Women-Led Businesses in Massachusetts . . live . subscription . March 20, 2022 . https://web.archive.org/web/20181028074109/https://www3.bostonglobe.com/magazine/2014/10/25/top-women-led-businesses-massachusetts/dtswOti9OErF9BKo0Z4YdI/igraphic.html . October 28, 2018 . 0743-1791.
  26. News: Thorn . Bret . January 16, 2015 . Au Bon Pain names new corporate executive chef . . live . registration . March 20, 2022 . https://web.archive.org/web/20190413001724/https://www.nrn.com/people/au-bon-pain-names-new-corporate-executive-chef . April 13, 2019 . 0028-0518.
  27. Au Bon Pain Appoints Ray Blanchette as President and CEO . June 24, 2016 . . March 20, 2022 . live . https://web.archive.org/web/20220311030245/http://www.prweb.com/releases/2016/06/prweb13513161.htm . March 11, 2022 . Boston.
  28. News: Jargon . Julie . November 8, 2017 . Panera Bread Founder Ron Shaich to Step Down as CEO . The Wall Street Journal . subscription . March 20, 2022 .
  29. News: Harris . David L. . November 8, 2017 . Panera will buy Au Bon Pain to gain bigger slice of bakery-cafe market . Boston Business Journal . live . March 20, 2020 . https://archive.today/20220320033839/https://www.bizjournals.com/boston/news/2017/11/08/panera-will-buy-au-bon-pain-to-gain-bigger-slice.html . March 20, 2022 . 1943-6343.
  30. News: Meyer . Zlati . November 8, 2017 . What's buzzing at Panera? It's buying Au Bon Pain and the CEO is resigning . . live . March 20, 2022 . https://web.archive.org/web/20210414175142/https://www.usatoday.com/story/money/2017/11/08/panera-bread-buying-au-bon-pain-deal-reunites-them/845067001/ . April 14, 2021 . 2165-1779.
  31. News: Hsu . Tiffany . November 8, 2017 . Panera Bread Buys Au Bon Pain, Adding to JAB's Breakfast Empire . . October 16, 2019 . https://web.archive.org/web/20201109043603/https://www.nytimes.com/2017/11/08/business/panera-au-bon-pain.html . November 9, 2020 . 0362-4331.
  32. Web site: Levy . Marc . December 16, 2019 . Final Cambridge Au Bon Pain closes Tuesday, wrapping up 35 years in former flagship city . live . https://archive.today/20220320040223/https://www.cambridgeday.com/2019/12/16/final-cambridge-au-bon-pain-closes-tuesday-wrapping-up-35-years-in-former-flagship-city/ . March 20, 2022 . October 28, 2020 . Cambridge Day.
  33. News: Haddon . Heather . June 30, 2021 . WSJ News Exclusive Au Bon Pain Bought by Restaurant Franchisee Ampex . Wall Street Journal . subscription . June 30, 2021 . 0099-9660.
  34. Web site: Rosen . Andy . Boston stalwart Au Bon Pain sold, again . subscription . live . https://web.archive.org/web/20210630172217/https://www.bostonglobe.com/2021/06/30/business/ampex-brands-buys-boston-born-bakery-cafe-chain-au-bon-pain/ . June 30, 2021 . June 30, 2021 . Boston Globe.
  35. News: Welker . Grant . June 30, 2021 . Au Bon Pain bought by Texas franchisee . Boston Business Journal . live . March 20, 2020 . https://archive.today/20220320041105/https://www.bizjournals.com/boston/news/2021/06/30/au-bon-pain-bought-by-ampex.html . March 20, 2022 . 1943-6343.
  36. Web site: Lucas . Amelia . June 30, 2021 . 7-Eleven and Yum Brands franchisee buys bakery-cafe chain Au Bon Pain . live . https://web.archive.org/web/20211109140622/https://www.cnbc.com/2021/06/30/yum-brands-franchisee-ampex-brands-buys-au-bon-pain-.html . November 9, 2021 . March 20, 2022 . CNBC.
  37. https://www.restaurantbusinessonline.com/financing/au-bon-pain-begins-adding-locations-again Au Bon Pain begins adding locations again
  38. Web site: Umholtz. Katelyn. Au Bon Pain in South Station closes, reportedly the last Boston location of the cafe chain. January 9, 2024. April 5, 2024. https://web.archive.org/web/20240405011048/https://www.boston.com/food/food-news/2024/01/09/south-station-au-bon-pain-closes/. April 5, 2024. Boston.com.

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