Starbucks Announces Agreement to Acquire La Boulange® Bakery to Elevate Core Food Offerings and Build Premium, Artisanal Bakery Brand
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SEATTLE, June 04, 2012 – Responding to customer demand for more wholesome and delicious food options, Starbucks Coffee Company (NASDAQ:SBUX) today announced that it has entered into a definitive agreement to acquire San Francisco-based Bay Bread, LLC and its La Boulange® bakery brand, as well as to hire renowned French baker Pascal Rigo. This acquisition and Pascal’s visionary leadership will bring the artistry of the French bakery to the marketplace in a similar way that Starbucks brought the romance of the Italian espresso bar to many North American coffee consumers for the first time.
La Boulange® bakery and Pascal are known for skillfully crafting authentic French pastries and breads from scratch using high-quality, fresh ingredients. With this acquisition, Starbucks plans to introduce many of Pascal’s secret and storied recipes into its U.S. company-operated stores under the La Boulange® brand, while also accelerating the expansion of the company’s retail footprint over time in key U.S. cities to further build a differentiated brand and customer experience unique to the premium retail bakery café category.