French group Le Duff acquires Vermont’s Bruegger’s

first_imgBruegger’s Bagels, Inc,Groupe Le Duff announced in a press release dated March 17 that it has bought out the café bakery chain Bruegger’s from US investment firm Sun Capital Partners for an undisclosed amount.Founded in 1983 in Burlington, Bruegger’s quickly made its mark on the fast casual restaurant segment by popularizing the bagel in the US. It marketed wellness and pleasure on a plate. It has a wide range of breakfast and lunch products and is highly appreciated for the quality of its sandwiches and pastries prepared on the spot. The company has 437 outlets in 26 states in the United States. It will continue to be led by CEO Jim Greco.The release did not mention Bruegger’s Canadian subsidiary, Timothy’s World Coffee, which it bought in November 2009. Timothy’s and another Canadian affiliate, Michel’s Bakery Cafe, operate under the affiliate Threecaf Brands Canada.Bruegger’s reported system-wide sales of $254.5 million for 2010, up 2.8 percent over 2009. It has about 100 employees in Vermont and 1,600 system-wide. This takeover puts Groupe Le Duff second in the world café bakery sector with:A turnover of 1.530 billion dollars (1.105 billion â ¬uros)1,105 restaurants and bakeries13,400 employeesGroupe Le Duff, which has been in North America since 1987, has now strengthened its position in the transatlantic market to rank 2nd in the world café bakery sector. Alongside this move in its foreign development, Groupe Le Duff is pursuing high organic growth and every year opens 70 new restaurants and bakeries worldwide.The group’s turnover is now in excess of a billion with annual sales standing at 1.530 billion dollars (1.105 billion euros).Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in market-leading companies that can benefit from its in-house operating professionals and experience. 7 years ago, SUN Capital Partners bought out Bruegger’s which it has now sold to Groupe Le Duff. RELATED STORIES:  Bruegger’s announces Q4, year-end financial resultsBruegger’s Enterprises, Inc. (BEI) announced today continued sales growth during the fourth quarter ending December 28, 2010. The 437-unit restaurant operator recognized sales of $63.2 million, a 3.6 percent increase over the fourth quarter of 2009. Profile: Nord Brue | Vermont Business Magazine Jan 1, 2004 … Brue and his partner, Michael J Dressell, began Bruegger’s as a privately …..Vermont tax revenues up from 2010, but lag 2011 projections …last_img

Leave a Reply

Your email address will not be published. Required fields are marked *