National bagel retailers Einstein Bagels, Manhattan Bagel, and Noah's New York Bagels — all of which are owned by Einstein Noah Restaurant Group — were sold today to JAB Holding Company, a German conglomerate. As the New York Times reported earlier today, the sale price of $374 million (or $20.25 per share) realizes a profit of 47 percent over the company's projected share price.
This isn't the first major American food brand JAB has acquired recently. In 2012 and 2013, the holding company acquired Peet's Coffee as well as Caribou Coffee and D.E Master Blenders. Could this mean a merging of the company's products in stores? Possibly. The company sees the deal as a perfect entry into a plan for growth across the country. The chairman of Einstein Noah, E. Nelson Heumann, said in a statement that the deal would allow the group to "continue to revitalize our brand, enhance our nationwide footprint and solidify our position as the leader in the fresh-baked bagels industry."
Hopefully Heumann and company will also consider investing in Einstein's product. Any genius can tell that those bagels could use some work.