A fast casual restaurant concept with 120 company-owned cafés and 100 franchised cafés that serve freshly baked breads, signature sandwiches, pre-made and tossed salads, over 30 soup varieties and café beverages.
The management team of Au Bon Pain sought funds to finance the recapitalization of the company which was 100% owned by Compass Group PLC, a contract foodservice provider.
Engagement Process and Outcomes
Recent Challenges – 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.
Excellent Process Management – To fully explore all options, Brookwood managed a marketing process that included senior debt, mezzanine debt and equity capital providers.
Result – 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. The transaction allowed management to obtain a majority equity interest in the new company, plus a compatible financing partner for the future.