STRATEGIC PARTNERS
May 24, 2011
Covelli Enterprises, the franchise operator of 190 Panera Bread locations throughout Ohio, Kentucky, Florida, West Virginia and Pennsylvania, has plans to open up to three locations in Toronto through an agreement to co-develop the region. The restaurants will join three additional locations in Canada for the 1,460-plus unit chain.
Covelli, through its affiliate Canadall ULC, has aggressive plans for expansion throughout the greater Toronto area, including new bakery-cafes in the communities of Mississauga/Oakville and Vaughn in 2011. Panera Bread ULC, Panera's Canadian affiliate, currently operates bakery-cafes in Richmond Hill, Mississauga and Thornhill, and also plans to open additional cafes in 2011.
Each new bakery-cafe location will represent approximately 40 new jobs for the community in which it is located. Panera LLC also plans to construct a new Fresh Dough Facility to service the Ontario market, which will employ between 60-120 people. The company is currently scouting potential sites for the facility, which it plans to open in late 2011 or early 2012.
"We're very excited to leverage the strength and experience of the Covelli franchise group to co-develop this market and bring our fresh artisan bread and high quality food selections to more Canadians," said Bill Moreton, CEO and pPresident, Panera Bread. "We plan to continue to develop the Ontario market and expand over the next several years."
The announcement comes a week after Buffalo Wild Wings opened its first location in Canada, a prime market for growth for several United States-based chains. Buffalo Wild Wings is anticipating the opening of up to 50 locations throughout the country over the next five years.
