Introduction
Eat This Not That is excited to report that a struggling bakery chain is getting a second life under new ownership. The chain, which has been struggling for years, is now being taken over by a new group of investors who are determined to turn the business around. The new owners have already begun making changes to the chain, including introducing new products, revamping the menu, and investing in new technology. With these changes, the bakery chain is poised to become a major player in the industry once again. We look forward to seeing how the new owners will continue to transform the chain and make it a success.
This Struggling Bakery Chain Is Getting a Second Life Under New Ownership — Eat This Not That
For years, the bakery chain Eat This Not That has been struggling to stay afloat. But now, the company is getting a second chance at life thanks to new owners. The new owners, a group of investors, have taken over the company and are looking to turn it around. They plan to focus on expanding the chain’s offerings, improving customer service, and creating a more modern atmosphere.
The new owners have already made some changes to the chain, including introducing new menu items and updating the decor. They have also hired a new executive team to help lead the company in the right direction. The team is focused on creating a more customer-centric experience, with an emphasis on fresh ingredients and quality products.
The new owners are also looking to expand the chain’s reach. They plan to open new locations in cities across the country, as well as expanding their online presence. This will allow them to reach more customers and increase their sales.
The new owners are confident that their changes will help the chain become a success. They believe that by focusing on customer service and quality products, they can create a loyal customer base that will help the chain thrive. With the right strategy and dedication, Eat This Not That could become a major player in the bakery industry.
Having made a home for itself in mostly non-traditional locations like airports and shopping centers with lots of foot traffic, Au Bon Pain’s sales were battered during the pandemic. But the gourmet bakery chain had an uncertain future even prior to 2020, with popularity lagging and its footprint going from 200 shops a decade ago to a mere 123 today.
And while it struggled, the chain did manage to broker a new lease on life last year, when it was acquired by seasoned restaurant operator Ampex Brands. The Yum! Brands and 7-Eleven franchisee acquired Au Bon Pain last year with $60 million in assets and according to Fast Casual, the chain has now made a first major step under new ownership—it opened a new restaurant in New York.
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The new Au Bon Pain location is situated on the second floor of Macy’s in the Queens Center mall in Elmhurst, N.Y. This is the bakery’s second location inside a New York Macy’s, according to Restaurant Business, and the first of several new restaurants it hopes to add in the Big Apple.
The chain’s sales are still not out of the woods, however. While in 2021, Au Bon Pain did see its sales grow by 17% compared to 2020, they were still down by a whopping 43% compared to its pre-pandemic business.
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Au Bon Pain has a complicated history, one that’s closely tied to a much more popular competitor. Baking Business states that partners Louis Kane and Rob Shaich created the chain in 1981, then took the company public in the early ’90s. Two years later, they acquired the Saint Louis Bread Company and eventually named it Panera Bread.
In 1999, Au Bon Pain was offloaded so that resources could be focused on the more promising Panera brand. The two brands converged again in 2017 when the much-bigger Panera Bread reacquired Au Bon Pain. When Panera merged with Einstein Bros Bagels and Caribou Coffee to create Panera Brands in 2021, the French-inspired bakery chain was sold off again, this time to Ampex.
Ampex’s goal is to stabilize and revamp existing cafes to venture into positive standing before it can open more corporate-owned locations.
Emily Boyette