Bagel company Einstein Noah sold for $364.5M

SHARE Bagel company Einstein Noah sold for $364.5M

LAKEWOOD, Colo. — The owner of Einstein Bros. Bagels and other, similar chains is being acquired by investment group JAB Holding for about $364.5 million.

The Einstein Noah Restaurant Group Inc. also owns Noah’s New York Bagels and Manhattan Bagel, and runs a dough production facility. It has more than 855 restaurants in 42 states and the District of Columbia.

JAB Holding Co. will pay Einstein stockholders $20.25 per share, a 51 percent premium to its Friday closing price of $13.39. The companies put the deal’s total equity value at approximately $374 million.

Einstein will keep its headquarters in Lakewood, Colorado, when the acquisition closes and will continue to run as a stand-alone business.

Caribou Coffee Co. CEO Michael Tattersfield will serve as chairman. JAB has a majority stake in Caribou Coffee.

BDT Capital Partners, a Chicago-based merchant bank, is a minority investor in this transaction alongside JAB.

The Latest
The Republican candidate for governor praises Trump, disses teachers, and serves up immorality wrapped in faith.
Director Bartlett Sher’s staging turns away from the rom-com aesthetic that defined both the 1956 Broadway debut and the 1964 movie.
Sarah Jackson Abedelal, the onetime principal of Brennemann Elementary School, is one of six people charged so far with scamming CPS through phony overtime claims and bogus orders for ink, paper and other printer supplies.
Joseph Guardia, 27, has been charged with the attack. He has offered no motive to police other than he is an “angry person,” according to prosecutors.
The teen was shot in his head by a gunman who came up from behind him Wednesday in the 500 block of West 117th Street, police said.