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Client:
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Au Bon Pain is a fast casual restaurant concept founded in Boston in 1978. The 120 company-owned cafés and 100 franchised cafés serve freshly baked breads, signature sandwiches, pre-made and tossed salads, over 30 soup varieties and café beverages.
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www.aubonpain.com
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Transaction Summary:
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The management team of Au Bon Pain sought funds to finance the recapitalization of the company which was 100% owned by Compass Group PLC.
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“Brookwood’s team was invaluable in advising the Au Bon Pain management team in executing its MBO. Their process yielded several quality financial partners at an attractive value and their expertise was instrumental in closing the deal efficiently.”
- Sue Morelli, President
ABP Corporation
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Transaction Highlights:
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Effective Positioning – Au Bon Pain faced the challenges of a recently-departed CEO, an unproven suburban prototype and requirements from Compass Group PLC to retain the company-owned airport locations. Brookwood helped present the complicated story in a clear fashion to potential investors.
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Effective Marketing and Negotiating – To fully explore all options, Brookwood managed a marketing process that included senior debt, mezzanine debt and equity capital providers. Management received attractive offers from senior and junior capital investors, and Brookwood was instrumental in determining the best structure and negotiating the best terms for management.
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Excellent Result – The transaction allowed management to obtain a majority equity interest in the new company, plus a compatible financing partner for the future. Brookwood’s efforts achieved a result that exceeded our clients’ expectations.
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