Starbucks Coffee Company has entered into a definitive agreement to acquire San Francisco-based (US) Bay Bread, and its La Boulange bakery brand, as well as to hire French baker, Pascal Rigo.
The company hopes that this acquisition will bring the artistry of the French bakery to the marketplace.
La Boulange bakery and Pascal are known for crafting authentic French pastries and breads from scratch using fresh ingredients.
With this acquisition, Starbucks plans to introduce many of Pascal’s recipes into its US company-operated stores under the La Boulange brand, while also accelerating the expansion of the company’s retail footprint over time in key US cities.
Howard Schultz, Starbucks chairman, president and CEO, said: “This is an investment in our core business. After more than 40 years, we will be able to say that we are bakers too.
"In La Boulange bakery and Pascal, we’ve found a company and a culinary artist who share our passion for creating premium products, reinventing and elevating an entire product category, and delivering the best customer experience.”
Source: Starbucks Coffee Company
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