A franchisee of Pizza Hut and KFC has acquired the 12 Panera Bread restaurants currently operating in the Toronto area, with plans to develop the fast-casual bakery-cafe concept across Canada, thestar.com reported yesterday.
Franchise Management said it views the diversification as a way of building its breakfast and lunch businesses. The morning daypart is dominated in Canada by Tim Hortons, the sister brand of Burger King.
Franchise Management, based in Woodstock, N.B., currently owns and operates 225 restaurants in Canada and the United States. Included are branches of Yum Brands’ KFC and Pizza Hut chains.
The company also operates convenience stores.