Panera acquires majority stake in Boston bakery

St. Louis-based Panera Bread Co. has acquired a 50.1 percent stake in a Boston-area baker with five locations.

Panera CFO Michael Bufano announced the investment during a conference call with stock analysts and investors last week. Terms of the deal were not disclosed.

The bakery, called Tatte Bakery & Café, serves Middle Eastern breakfast and lunch items and will continue to serve as an independent company while receiving support from Panera, who has an option to acquire a greater stake in the company in the future.

Read more: St. Louis Business Journal

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