Yum Brands and 7-Eleven Purchase the Bakery-Cafe Chain Au Bon Pain
The franchisee has now become the franchisor.
Ampex Brands, which operates more than 400 Pizza Hut, KFC, Taco Bell, Long John Silver’s and 7-Eleven locations in the U.S., announced Wednesday that it bought the bakery-cafe chain Au Bon Pain.
“Our [quick-service restaurant] brands performed extraordinarily well throughout the pandemic as guests moved to drive-thru,” Ampex CEO Tabbassum Mumtaz said in a statement. “That performance allowed us to diversify and jump on a great opportunity to reposition a legacy brand. The bakery café category will rebound, and Au Bon Pain is well-positioned to grow.”
The acquisition was finalized on Tuesday. Financial terms of the deal were not disclosed, but Ampex gains control of Au Bon Pain’s 171 locations, which will increase the company’s revenue by about 10% annually. It has also received franchising rights for an additional 131 restaurants.
