Seattle — Starbucks Coffee Co. is looking to expand its food business. The chain has entered into an agreement to acquire San Francisco-based Bay Bread and its La Boulange bakery brand, as well as to hire its well-known French baker, Pascal Rigo. The cash deal is valued at $100 million.
La Boulange, which also serves salads and sandwiches, has 19 locations in the Bay Area. In addition to serving the bakery’s pastries, breads and sandwiches under the La Boulange name in its U.S. stores, Starbucks also plans to accelerate the expansion of the company’s retail footprint over time in key U.S. cities.
“This is an investment in our core business. After more than 40 years, we will be able to say that we are bakers too,” said Howard Schultz, Starbucks chairman, president and CEO.
via Starbucks buys San Francisco bakery chain; will expand format across U.S. | Chain Store Age.
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