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The story
Bruegger's was founded in 1983 by Nordahl Brue and Mike Dressell, with the first store opening in Troy, New York.
The business was bought by Quality Dining (a franchisee) in June 1996 for $142 million in stock, with the founders joining the Quality Dining board. The merge was not a comfortable one; within a short period Brue and Dressell became concerned with the ongoing operations and scope for growth, leading to a critical U.S. Securities and Exchange Commission (SEC) filing alleging a lack of strategic direction. Holding a combined 26% stake, Brue and Dressell called for reorganization of Quality Dining, resulting in Bruegger's being resold to Brue and Dressel in October 1997 for $45 million. Brue has since referred to the original sale as part of his "biggest mistake".
In May 2003, James J. Greco and Sun Capital Partners acquired the company from the founders.
Today, approximately 190 Bruegger's locations operate in 16 U.S. states and the District of Columbia. The company is headquartered in Burlington, Vermont. Bruegger's announced $200 million in revenue in 2008.
On November 13, 2009, Bruegger's purchased the retail operations of Timothy's World Coffee, mmmuffins, and Michel's Baguette through a wholly owned subsidiary called ThreeCaf Brands Canada, Inc. Bruegger's intends to continue operations of all three brands. The three brands combined operated approximately 140 locations.
On March 17, 2011, Groupe Le Duff of France announced the buyout of Bruegger's. Le Duff already has a U.S. presence with its La Madeleine brand, which has 60 units domestically. Le Duff plans to "Francify" some Bruegger's locations, and will combine other units with Brioche Dorée outlets. The first European Bruegger's opened in Rennes in 2013 (Paris and Toulouse in 2015).
In December 2011, James J. Greco announced he would be stepping down as CEO at the end of the year to pursue other opportunities.
On August 24, 2017, it was announced that Bruegger's owner Le Duff America announced that Caribou and its privately held owner JAB Holdings had agreed to buy the bagel chain. The terms of the deal, which closed at the end of September, were not disclosed. In December 2017 Bruegger's closed 30 locations, primarily in Eastern markets.
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In April 2018, Threecaf Brands sold Timothy's World Coffee and mmmuffins to Canadian company MTY Food Group for $1.7 million, of which $1.2 million was in cash, $0.2 million in assumed liabilities, and $0.3 million as a holdback.
Michel's Bakery Café
Michel's Bakery Café, formerly named Michel's Baguettes, is a Canadian bakery-café founded in 1980, operating restaurants throughout Canada. The company is one of the largest bakery-café chains in Canada and operates both corporate and franchise locations. The company was purchased by Timothy's Coffees of the World Inc. in 2001. Timothy's continued to operate the Michel's Bakery Café stores under their original trade name, Michel's Baguette. On November 13, 2009, Michel's Baguette was sold to Bruegger's Enterprises, Inc. along with Timothy's Coffee and mmmuffins through a wholly owned subsidiary called ThreeCaf Brands Canada Inc. Bruegger's has continued to operate these chains. The company has since revitalized its operations, revamped its aesthetics and changed its name to Michel's Bakery Café.
From Wikipedia’s article on Bruegger's, shared under CC BY-SA 4.0.4