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