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Panera Sells Au Bon Ache
Ampex Manufacturers, a restaurant operator, is shopping for Au Bon Ache, the bakery chain, from Panera Bread (PNRA). The deal will protect the Au Bon Ache model, which Panera was within the technique of phasing out. By means of the deal, Ampex Manufacturers will obtain about $60 million in property.
The transaction underscores the facility of franchise firms within the restaurant trade. Previously, most franchisees owned one or two shops, however right this moment a few of them personal lots of of restaurant areas throughout totally different chains. In truth, some franchisees drive extra gross sales than the dad or mum firms of the restaurant manufacturers they function. Ampex owns greater than 400 eating places and comfort shops throughout the nation.
Ampex Plans to Develop Au Bon Ache Model
Phrases of the Ampex deal weren’t disclosed however the firm mentioned the deal contains the property and franchise rights for 131 extra Au Bon Ache areas. Ampex plans to start out opening further Au Bon Ache areas, although transit hubs and enterprise facilities nonetheless haven’t returned to regular following the pandemic. Many Au Bon Pains are positioned in airports, prepare stations, and enterprise hubs. The corporate is betting that when US customers return to pre-pandemic habits, demand for its merchandise will rise.
At its top, Au Bon Ache had 300 areas, however due to elevated competitors and different elements, that quantity has been decreased to 171.
Franchisees Acquire Energy
Franchisees like Ampex have been capable of climate the pandemic higher than impartial restaurant operators for a number of causes. They’ve additional cash within the financial institution they usually had been capable of rapidly adapt to new situations via methods like providing take-out.
Franchisees like Ampex in addition to Carrols Eating places (TAST) and Flynn Restaurant Group (RSTGF) are gaining extra energy in negotiations with restaurant dad or mum firms. That is enabling them to push again on sure mandates and name for brand new merchandise. For instance, McDonald’s (MCD) launched a brand new hen sandwich earlier this 12 months in response to requests from franchisees. Because the restaurant trade comes out of the pandemic, energy dynamics are shifting between dad or mum firms and franchisees.
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