Operations

Au Bon Pain sold to Yum, 7-Eleven franchisee

Provided

June 30, 2021

Ampex Brands, a Yum Brands Inc. and 7-Eleven franchisee, has acquired Au Bon Pain from ABP Corp., a subsidiary of Panera Bread. The deal was finalized Wednesday, but financial details were not disclosed, according to a company press release.

Au Bon Pain's 171 locations will increase Ampex's footprint to nearly 600 units and its annual revenue by nearly 10%. The deal also grants Ampex franchising rights to an additional 131 locations.

"We see a solid future for both Au Bon Pain and our broader portfolio," Ampex CEO Tabbassum Mumtaz said in the release. "Our QSR brands performed extraordinarily well throughout the pandemic as guests moved to drive-thru. That performance allowed us to diversify and jump on a great opportunity to reposition a legacy brand. The bakery cafe category will rebound, and Au Bon Pain is well-positioned to grow."

A longtime franchisee of Pizza Hut, KFC, Taco Bell, Long John Silver's and 7-Eleven, Ampex is assuming the role of the franchisor for the first time in its 16-year history. The acquisition also expands the company's footprint internationally.

Leading the pack

Au Bon Pain has a team of new leaders, including Ericka Garza, who is the former senior franchise growth leader for Pizza Hut and is taking over as Au Bon's president. Garza is working work with Ampex to ramp up the opening of the chain's existing stores starting in the Northeast and mid-Atlantic. Once they're showing positive results, the team will kick off expansion efforts, starting with corporate-owned locations.

"The US is reopening, and our markets are coming back to life," Garza said in a company press release. "As we open our cafés, Au Bon Pain's brand reputation, loyal following, strong real estate and menu position the brand favorably for success. We also see opportunity in its nontraditional locations, currently in transportation hubs, airports, universities and hospitals. Smaller footprints with less dine-in seating are the future of fast casual dining, and having a successful prototype with long-standing institutional relationships allows for flexibility as we grow."

The leadership team also includes COO Brian Bacica, who has spent more than 30 years in hospitality, including 18 years in food and beverage leadership roles for Disneyland, Universal Studios Hollywood and Universal Orlando Parks and most recently as CEO of PEAK Event Services.

Beth Collins will serve as Ampex Brands' first global CMO, overseeing brand responsibilities for both Au Bon Pain and Ampex Brands. Collins is a 20-plus-year marketing veteran, who has worked with Raising Cane's, Texas Land & Cattle/Lone Star Steakhouse, Twin Peaks and Lucky Strike Entertainment.

Founded in 2005 in Richardson Texas, Ampex reports revenues of nearly $500 million.