LNK closes on acquisition of Au Bon Pain
March 04, 2008
by Eric Schroeder
BOSTON — Au Bon Pain and LNK Partners, a private equity firm focused on the consumer retail sector, have completed the recapitalization of Au Bon Pain. LNK and Au Bon Pain management acquired a majority ownership interest in the company with more than $100 million of fresh equity invested in the transaction.
Au Bon Pain operates cafes focusing on high-quality breakfast and lunch foods and generated sales revenue of almost $300 million in 2007.
"We look forward to a productive partnership with the Au Bon Pain management team," said Henry Nasella, a founding partner of LNK Partners. "The Au Bon Pain brand is highly recognized and uniquely positioned with a strong and differentiated consumer value proposition."
Sue Morelli, president and chief executive officer of Au Bon Pain, said LNK’s investment and guidance will support Au Bon Pain’s expansion strategy in the United States and selected global markets.
"We are excited to work together to create value for all of Au Bon Pain’s stakeholders," Ms. Morelli said.