BOSTON — Au Bon Pain and LNK Partners, a private equity firm focused on the consumer/retail sector, have announced that they have completed the recapitalization of Au Bon Pain.
LNK and Au Bon Pain management acquired a majority ownership interest in the company with more than $100 million of fresh equity invested in the transaction. The investment will support the company's expansion strategy in the United States and in selected global markets.
Boston-based Au Bon Pain operates 226 bakery-cafes systemwide, including locations and franchise cafes in the U.S. and internationally. In 2007, Au Bon Pain generated sales revenue of almost $300 million systemwide.
CapitalSource, the company's incumbent lender, provided the debt financing for the transaction.
Read also, Au Bon Pain to be acquired by LNK.
