Einstein Bros. Bagels
| Company type | Franchise |
|---|---|
| Industry | Food and beverage |
| Founded | 1995 |
| Founder | Boston Chicken (now Boston Market) |
| Fate | Acquired by New World Coffee in 2000; integrated into Panera Brands in 2021 |
| Headquarters | Lakewood, Colorado , United States |
Area served | United States |
| Owner | Panera Brands |
| Website | www |
Einstein Bros. Bagels represents a U.S.-based bagel café franchise. During the 1990s, it expanded by acquiring multiple regional bagel businesses in American markets where bagel culture was not deeply rooted. Following a bankruptcy filing in 2000, the company was purchased by New World Coffee and later integrated into Panera Brands as of August 2021.
History
The origin of Einstein Bros. dates back to 1995 when Boston Chicken (now known as Boston Market) launched the brand to diversify into the breakfast segment. Presently, it operates under the ownership of Panera Brands.
In March 1995, Boston Chicken established the Einstein and Noah Bagel Corporation through Progressive Bagel Concepts, Incorporated (PBCI), consolidating four retail bagel chains situated in areas with limited bagel familiarity: Offerdahl's Bagel Gourmet in Fort Lauderdale, Bagel & Bagel in Kansas City, Baltimore Bagel in San Diego, and Brackman Brothers in Salt Lake City. These outlets featured both classic and innovative bagel varieties aimed at affluent communities with little prior exposure to bagels.
Noah's Bagels was originally founded in Berkeley, California, in 1989 by Noah Alper. In 1996, Einstein Bros. acquired this 38-store chain for $100 million.
Acquisition by New World Coffee
New World Coffee, created in the early 1990s by former investment banker Ramin Kamfar, took over Manhattan Bagel following its bankruptcy in 1998. The merged entity grew further by purchasing Chesapeake Bagel Bakery in 1999, bringing Manhattan’s total locations to around 350. After Einstein Bros. filed for bankruptcy in 2000 due to excessive franchisee lending, New World Coffee acquired it for $190 million, succeeding after an earlier failed hostile bid.
Other acquisitions and mergers
In 2014, JAB Holding Company along with BDT Capital Partners bought Einstein Noah Restaurant Group for $374 million. Subsequently, on August 5, 2021, Einstein Bros. combined operations with Panera Bread and Caribou Coffee to establish Panera Brands.
See also
External links
- Articles with short description
- Restaurants in Colorado
- Bagel companies
- Bakery cafés
- Fast casual restaurants
- Fast-food chains of the United States
- Fast-food franchises
- Companies based in Lakewood, Colorado
- Companies formerly listed on the Nasdaq
- Restaurants established in 1995
- 1995 establishments in Colorado
- Companies that filed for Chapter 11 bankruptcy in 2000
- 2014 mergers and acquisitions
- American companies established in 1995