Panera Bread Co. said Tuesday that it agreed to spend about $15.3 million to buy 13 franchised bakery-cafés and the area development rights for certain markets in Iowa, Nebraska and South Dakota from its franchisee, Panebraska LLC.
One of the 13 bakery-cafés Panera plans to buy is under construction. Panera said in a release that it expects to pay about $15.3 million in cash and assume certain liabilities, including those associated with bakery-café construction.
According to the release, the deal is set to close on or about Oct. 24, subject to customary closing conditions.
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Panera To Pay $15M For 13 Franchise Sites
October 11, 2006 by Mark | 0 Comments
In Franchising in USA and/or Canada, News
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