Einstein Bros. Bagels
|Owner||JAB Holding Company and BDT Capital Partners|
|Parent||Einstein Noah Restaurant Group, Inc.|
Einstein Bros. was created by the chain restaurant corporation Boston Chicken (now Boston Market) in 1995, as a way to market breakfast foods. The chain is now owned by Einstein and Noah Corp., a wholly owned subsidiary of Einstein Noah Restaurant Group, Inc.
Boston Chicken, Inc. originally formed the Einstein and Noah Bagel Corporation as Progressive Bagel Concepts, Incorporated (PBCI) in March 1995, when it purchased three retail bagel chains, all located in regions of the United States that did not have longstanding bagel traditions. These companies included Offerdahl's Bagel Gourmet, Incorporated (Fort Lauderdale), Bagel & Bagel, Incorporated (Kansas City) and Brackman Brothers, Incorporated (Salt Lake City). Each found that their stores were similar in that they offered both original and new bagel flavors in rich neighborhoods where the customers had relatively little previous exposure to bagels.
New World Coffee, founded in the early 1990s by Ramin Kamfar, an investment banker who left his finance career to open a coffee shop. It bought Manhattan Bagel out of bankruptcy in 1998. The combined company purchased Washington, D.C.-based Chesapeake Bagel Bakery in 1999 when that chain had 89 stores, giving Manhattan approximately 350 locations.
By 2000, Einstein Bros. was in financial trouble, having loaned too much money to franchisees. After it declared bankruptcy, New World Coffee, which had earlier attempted an unsuccessful hostile takeover, bought the company out of bankruptcy for $190 million.
- "Einstein Noah Restaurant Group, Inc. -- Welcome". Archived from the original on July 14, 2015. Retrieved July 14, 2015.
Einstein Noah Restaurant Group, Inc. is a leading company in the quick casual restaurant industry that operates locations primarily under the Einstein Bros. and Noah's New York Bagels® brands and primarily franchises locations under the Manhattan Bagel® brand. The company's retail system consists of approximately 800 restaurants in the U.S. and the District of Columbia. It also operates a dough production facility. (emphasis added)
- Alden, William (2014-09-29). "Bagel Maker Einstein Noah Sold to German Firm for $374 Million". The New York Times. Retrieved 2015-01-18.
- Portable, versatile, tasty: Reasons we like our bagels Bakery' s offerings include nontraditional chocolate chip The Dallas Morning News – Wednesday, November 13, 1996 Author: Kendall Morgan, Staff Writer of The Dallas Morning News
- Ilana DeBare (2009-12-09). "Bagel firm founder tells what Noah would do". San Francisco Chronicle.
- Kelly Pate (2001-07-02). "Former Investment Banker's Coffee Shop Grows into Largest U.S. Bagel Chain.". Denver Post.
- "New World Coffee buys Manhattan Bagel". United Press International. 1998-07-29.
- "Homegrown Chesapeake Bagel to Get New Owner". Washington Post. 1999-07-28.
- Terry Brennan (2001-06-04). "New World wins fight for bagel maker". The Daily Deal.