Au Bon Pain

Au Bon Pain (French pronunciation: [o bɔ̃ pɛ̃], meaning "at (or 'to') the Good Bread"[2]) is an American fast casual restaurant, bakery, and café chain headquartered in Richardson, Texas and operates 175 locations in the United States, and Thailand.[3] The company is currently owned by AMPEX Brands.

ABP OPCO, LLC.
Au Bon Pain
TypeSubsidiary
IndustryFast-casual restaurant, bakery, and café
Founded1976 (1976) in Boston
Founder
  • Louis Rapuano
  • Louis I. Kane
Headquarters
Richardson, Texas
,
United States
Number of locations
171 (2021)[1]
Area served
  • United States
  • Thailand
Products
  • Breakfast
  • Lunch
OwnerAMPEX Brands
Websitewww.aubonpain.com
Former Au Bon Pain headquarters in Boston
Au Bon Pain at Siam Square in Bangkok
Au Bon Pain in the Hesburgh Library at the University of Notre Dame.

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 soup, salads, and sandwiches. The company also offers catering services.[4]

Most of the company's locations are on the East Coast of the United States, notably Philadelphia, New York City, and Boston.[5] Locations are either company-owned or franchised. Most of the company-owned locations are in Boston, Chicago, New York, Philadelphia, Pittsburgh, and Washington D.C., while franchise locations are operating in 19 states around the country, as well as internationally.[6] The business model currently favors locations at colleges, hospitals, and transportation stations.[7]

History

Pavailler,[8] 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.[9]

In 1978, Au Bon Pain was acquired by Louis I. Kane, a venture capitalist who liked how its products smelled, for US$1.5 million (equivalent to US$6.7 million in 2022).[10] 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.[11]

By 1980, Au Bon Pain had over US$1 million (equivalent to US$3.6 million in 2022) in sales, but was still losing money.[12][13][14]

In 1981, the company was suffering from debt and on the verge of bankruptcy, and Ronald M. Shaich and his father acquired a 60% interest in the company.[13]

In 1991, the company was listed on the stock market via an initial public offering.[15]

In 1993, the company acquired Saint Louis Bread Company, the predecessor of Panera Bread, for US$23 million (equivalent to US$46.6 million in 2022).[13][15][16][17] The company also acquired the U.S. bakery locations of Warburtons, which were converted to Au Bon Pain locations.[18]

In 1996, the company announced plans to upgrade the interior of its stores after reporting a loss.[19]

In 1997, the company considered opening locations in Peru.[20]

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.[21]

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.[22]

In 2005, Au Bon Pain management, in partnership with PNC Financial Services, purchased 75% of the company; Compass Group retained the remaining 25%.[23]

In March 2008, LNK Partners, a private equity firm, acquired a controlling interest in the company.[24]

In 2011, all its locations were renovated in a major remodeling program.[25]

In 2013, the company announced that by 2017, it would only use free-range eggs.[26]

In 2014, under the leadership of Sue Morelli, Au Bon Pain was named one of the top women-led businesses in Massachusetts.[27]

In January 2015, Au Bon Pain hired Katherine See as Executive Chef.[28]

In 2015, UNITE HERE, a labor union, targeted the company's employees at Philadelphia International Airport.[29] The union published a report that the company was underperforming.[30]

In June 2016, Morelli retired, and Ray Blanchette was named President and CEO.[31]

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.[15][32][33][34] Following the deal, Ron Shaich stepped down as the Au Bon Pain's chief executive, to be succeeded by Blaine Hurst, Panera's president.[35]

In 2018, the company looked to close its 9 locations in Washington, D.C. or convert them to Panera Bread locations.[36]

In December 2019, Au Bon Pain closed its last remaining Cambridge, Massachusetts store, ending over 35 years of doing business in their former flagship city.[37]

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 locations. AMPEX Brands declined to disclose the exact value of the deal but confirmed the inclusion of assets and franchise rights for 131 additional locations.[38][39] AMPEX Brands also concurrently announced the move of the company's headquarters from Boston to its own headquarters in Texas.[40][41]

See also

References
  1. Lucas, Amelia (2021-06-30). "7-Eleven and Yum Brands franchisee buys bakery-cafe chain Au Bon Pain". CNBC. Archived from the original on 2021-11-09. Retrieved 2022-03-20.
  2. King, Christina B (2013-03-14) [1992-06-24]. "AU BON PAIN Trademark of ABP OPCO LLC - Registration Number 1757444 - Serial Number 74287859 :: Justia Trademarks". Justia. Archived from the original on 2018-10-28. Retrieved 2022-03-19.
  3. "About Us | Au Bon Pain". Au Bon Pain. Archived from the original on 2022-03-18. Retrieved 2022-03-19.
  4. "Catering | Au Bon Pain". Au Bon Pain. Archived from the original on 2022-03-18. Retrieved 2022-03-19.
  5. "All Locations | Au Bon Pain". Au Bon Pain. Archived from the original on 2021-12-30. Retrieved 2022-03-19.
  6. "Au Bon Pain Bakery Cafe Franchise Cost & Opportunities | Franchise Help". Franchise Help. Archived from the original on 2021-07-09. Retrieved 2021-06-30.
  7. Au Bon Pain Stores
  8. "Bakery and pastry ovens - Pavailler". Pavailler. Archived from the original on 2022-03-19. Retrieved 2022-03-19.
  9. McNiff, Veronica (1977-09-19). "Bakery: Au Bon Pain". Architecture: Tomorrowland Today. New York. Vol. 10, no. 38. ISSN 0028-7369. OCLC 50754475. Retrieved 2020-01-06 – via Google Books.
  10. 1634–1699: McCusker, J. J. (1997). How Much Is That in Real Money? A Historical Price Index for Use as a Deflator of Money Values in the Economy of the United States: Addenda et Corrigenda (PDF). American Antiquarian Society. 1700–1799: McCusker, J. J. (1992). How Much Is That in Real Money? A Historical Price Index for Use as a Deflator of Money Values in the Economy of the United States (PDF). American Antiquarian Society. 1800–present: Federal Reserve Bank of Minneapolis. "Consumer Price Index (estimate) 1800–". Retrieved 2023-05-28.
  11. Kolnos, Jason (2004-02-29). "Serving up fun: Francois Marin, retired founder of Au Bon Pain chain turns attention to volleyball league for seniors". Cape Cod Times. Archived from the original on 2022-03-19. Retrieved 2022-03-19.
  12. Stewart, Brandi (2007-12-07). "Pastry parlay: From Au Bon Pain to Panera; How Panera Bread founder Ron Shaich sold his first business to build his second". CNN. Archived from the original on 2019-03-28. Retrieved 2022-03-19.
  13. Kowitt, Beth (2012-07-17). "A founder's bold gamble on Panera". Fortune. Archived from the original on 2019-03-27. Retrieved 2022-03-19.
  14. "Panera founder Ron Shaich '76 to speak at commencement, May 18". Clark University (Press release). 2014-03-26. Archived from the original on 2021-02-24. Retrieved 2022-03-19.
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  16. Deagon, Brian (2010-01-25). "Panera's Ron Shaich Really Rolls In The Dough" (PDF). Investors.com. Archived (PDF) from the original on 2020-09-28. Retrieved 2022-03-19.
  17. "Au Bon Pain to Acquire Saint Louis Bread Company". The New York Times. Associated Press. 1993-11-12. Retrieved 2022-03-19.
  18. "Au Bon Pain bakery cafes take over Warburtons restaurants". United Press International. Pittsburgh. 1993-01-25. Archived from the original on 2018-10-29. Retrieved 2022-03-20.
  19. "Au Bon Pain Stock Drops 11% On News That Loss Is Expected". The Wall Street Journal. Boston. 1996-10-07. Retrieved 2022-03-20.
  20. "U.S. Bakery Chain Au Bon Pain May Open Operations in Peru". Lima: The Wall Street Journal. Associated Press. 1997-10-12. Retrieved 2022-03-20.
  21. Goodison, Donna L. (2000-12-04). "Au Bon Pain acquisition may be near". Boston Business Journal. ISSN 1943-6343. Archived from the original on 2006-02-15. Retrieved 2022-03-20.
  22. Goodison, Donna L. (2000-04-03). "Au Bon Pain to serve its concept in Taiwan's capital city". Boston Business Journal. ISSN 1943-6343. Archived from the original on 2002-12-18. Retrieved 2022-03-20.
  23. Stempel, Jonathan; Dorfman, Brad (2008-01-16). "LNK to buy majority stake in Au Bon Pain". Reuters. Archived from the original on 2018-10-29. Retrieved 2022-03-20.
  24. "Au Bon Pain Acquisition by LNK Partners and Management Closes". American Banker (Press release). Boston and White Plains, New York. PR Newswire. 2008-03-05. Retrieved 2022-03-20.
  25. "Au Bon Pain Launches Cafe Remodel Program as Part of National Expansion Strategy; Transforms New York City Cafes". PR Newswire (Press release). 2011-06-08. Archived from the original on 2018-10-29. Retrieved 2022-03-20.
  26. "Au Bon Pain Continues Shift to Eggs from Cage-Free Hens; Commits to 100% Gestation Crate–Free for Pork". Business Wire (Press release). Boston. 2013-01-21. Archived from the original on 2018-10-29. Retrieved 2022-03-20.
  27. "2014 Top 100 Women-Led Businesses in Massachusetts". The Boston Globe. 2014-10-25. ISSN 0743-1791. Archived from the original on 2018-10-28. Retrieved 2022-03-20.
  28. Thorn, Bret (2015-01-16). "Au Bon Pain names new corporate executive chef". Nation's Restaurant News. ISSN 0028-0518. Archived from the original on 2019-04-13. Retrieved 2022-03-20.
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  30. UNITE HERE (2015-10-07). "Au Bon Pain's underperformance under LNK Partners ownership continues with loss of units in fiscal year 2014, according to UNITE HERE". Business Wire (Press release). Archived from the original on 2018-10-28. Retrieved 2022-03-20.
  31. "Au Bon Pain Appoints Ray Blanchette as President and CEO" (Press release). Boston: PRWeb. 2016-06-24. Archived from the original on 2022-03-11. Retrieved 2022-03-20.
  32. Jargon, Julie (2017-11-08). "Panera Bread Founder Ron Shaich to Step Down as CEO". The Wall Street Journal. Retrieved 2022-03-20.
  33. Harris, David L. (2017-11-08). "Panera will buy Au Bon Pain to gain bigger slice of bakery-cafe market". Boston Business Journal. ISSN 1943-6343. Archived from the original on 2022-03-20. Retrieved 2020-03-20.
  34. Meyer, Zlati (2017-11-08). "What's buzzing at Panera? It's buying Au Bon Pain and the CEO is resigning". USA Today. ISSN 2165-1779. Archived from the original on 2021-04-14. Retrieved 2022-03-20.
  35. Hsu, Tiffany (2017-11-08). "Panera Bread Buys Au Bon Pain, Adding to JAB's Breakfast Empire". The New York Times. ISSN 0362-4331. Archived from the original on 2020-11-09. Retrieved 2019-10-16.
  36. Cooper, Rebecca (2018-03-16). "Parent co. of Panera looks to close nine D.C. Au Bon Pains". Washington Business Journal. ISSN 0737-3147. Archived from the original on 2022-03-20. Retrieved 2022-03-20.
  37. Levy, Marc (2019-12-16). "Final Cambridge Au Bon Pain closes Tuesday, wrapping up 35 years in former flagship city". Cambridge Day. Archived from the original on 2022-03-20. Retrieved 2020-10-28.
  38. Haddon, Heather (2021-06-30). "WSJ News Exclusive | Au Bon Pain Bought by Restaurant Franchisee Ampex". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-06-30.
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  40. Welker, Grant (2021-06-30). "Au Bon Pain bought by Texas franchisee". Boston Business Journal. ISSN 1943-6343. Archived from the original on 2022-03-20. Retrieved 2020-03-20.
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