The mega franchisee Flynn Group is adding more Panera locations to its portfolio.
Flynn Group LP said Thursday it has acquired 13 Panera Bread cafes from Blue Ridge Bread Inc. Terms were not disclosed.
But the acquisition brings Flynn Group’s Panera holdings to 145 across nine states, and it brings the San Francisco-based franchise operator into Virginia for the first time with the Panera brand. Eleven of the 13 Panera units that were part of the deal are in Virginia. (The other two are in West Virginia.)
“Panera is such a great, natural fit for our portfolio, which is why we were so eager to add the brand under the Flynn umbrella, and have devoted significant resources to growing with them,” said Greg Flynn, founder, chair and CEO of Flynn Group, in a statement.
Flynn Group is the world’s largest franchise operator, with more than 2,900 businesses, including Applebee’s, Arby’s, Taco Bell, Pizza Hut, Wendy’s, and, of course, Panera. The group is the third largest Panera franchisee.
The seller Blue Ridge Bread was founded by Rick Postle, who was the first president of Panera LLC and led the brand through its conversion from Saint Louis Bread Company to Panera Bread, launching franchising.
Postle went on to launch the restaurant investment company Capital Dough Inc., which developed and ultimately sold 75 Panera locations in the Mid-Atlantic and Southeast, including the 13 sold to Flynn, as well as Dave’s Hot Chicken.
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