Bloomberg: The investment firm will acquire the bagel shop chain for $374 million.
Bloomberg: The investment firm will acquire the bagel shop chain for $374 million.
JAB is paying $20.25 a share in cash, a 51 percent premium over Einstein Noah’s last closing price before today. Einhorn’s Greenlight Capital, the largest stockholder in Einstein Noah with more than 35 percent, will tender its shares in the transaction, the companies said in a statement today.
Closely held JAB, an investment firm focused on consumer companies, will add brands such as Einstein Bros. Bagels and Noah’s New York Bagels to its holdings, which also include majority stakes in Peet’s Coffee & Tea Inc. and Caribou Coffee Co. Einstein Noah, which has more than 855 restaurants in 42 states, will continue to operate as a standalone business.
Read more here.
