Starbucks Coffee Co. has entered into an agreement to acquire Bay Bread (San Francisco) and its La Boulange bakery brand in a cash deal valued at $100 million. As part of the deal, Starbucks would hire well-known French baker, Pascal Rigo.
La Boulange, which serves baked items, salads and sandwiches, has 19 locations in the San Francisco 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.
The acquisition of La Boulange follows Starbucks’ purchase last November of juice seller Evolution Fresh for $30 million.
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