Einstein Noah acquires Kettleman Bagel
Nov. 30, 2011
by Eric Schroeder
LAKEWOOD, COLO. — Einstein Noah Restaurant Group, Inc. has acquired Kettleman Bagel Co., a five-store bagel chain founded in 2006 in Portland, Ore. Financial terms of the transaction were not disclosed.
Einstein said it expects to rebrand all five locations into one of its other brands in the future. Currently Einstein operates under the Einstein Bros. Bagels, Noah’s New York Bagels, and Manhattan Bagel brands.
“This acquisition fits well within our aggressive growth strategy as we believe there is tremendous opportunity for Einstein Noah in this market,” said Jeff O’Neill, president and chief executive officer of Einstein Noah. “We congratulate Jeffrey Wang on creating a thriving business and look forward to welcoming Kettleman Bagels into the Einstein Noah family, as we pursue our goal of accelerating unit growth through a combination of corporate, franchise, and licensed expansion.”
Jeffrey Wang, president and c.e.o. of Kettleman Bagel, added, “I have complete confidence in the Einstein Noah management team and respect their commitment to bring quality, fresh baked and healthy food options to the communities they serve. The company’s proven success and personable culture made becoming part of Einstein Noah an attractive and easy decision. Now I can retire knowing my company is in good hands.”