Strategic and financial partnership brings an enthusiastic, experienced, and successful ownership group to Corner Bakery
Corner Bakery has been acquired by Pandya Restaurant Growth Brands, LLC (PRGB), one of the Rohan Group of Companies, owned by the real estate investor and restaurant operator, Jignesh (Jay) Pandya of Bucks County, Pennsylvania. PRGB will now assume ownership of Corner Bakery, purchasing the brand from affiliates of Roark Capital Partners. Terms of the private transaction were not disclosed.
The Rohan Group of Companies is a well-established organization with ownership interests in a wide array of business enterprises, including operations with multiple franchised restaurant concepts. Rohan Group affiliate Engage Brands purchased the Boston Market chain of Restaurants in April and has been working to expand the Boston Market brand by opening restaurants and expanding its menu. Pandya sees opportunities for strategic alliances between Corner Bakery and Boston Market.
“Our acquisition of Corner Bakery aligns with what we believe families are seeking – high quality kitchen crafted food and good, consistent customer service,” stated Pandya.
“We are very pleased to partner with Pandya Restaurant Growth Brands as we seek to expand our brand,” said Frank Paci, Chief Executive Officer of Corner Bakery. “Pandya Restaurant Growth Brands brings an enthusiastic, experienced, and successful ownership group to Corner Bakery, as well as access to resources that we need to continue to operate our business in this challenging environment. With the strategic and financial backing Jay and his team bring, we will continue to focus on key operational initiatives to improve guest experience, menu development, and the growth of our brand. We are now well-positioned to achieve future success during a period of unprecedented disruption for our industry.”
“I am delighted to be a part of Corner Bakery, an outstanding restaurant chain with a superb, high quality menu. I look forward to working with and being a resource for the more than 3400 Corner Bakery team members, and expanding this genuinely great brand,” said Mr. Pandya.
Corner Bakery Cafe is a fast-casual restaurant serving kitchen-crafted breakfast, lunch, dinner and catering to guests in 23 states and Washington, D.C. Its restaurants have been a neighborhood favorite since the brand was established in 1991. The original American Italian bakery cafe was founded on a philosophy of creating a warm and comfortable place for people to relax with friends, family and neighbors. The restaurant features artisan-inspired, seasonal menu options made with fresh ingredients, while delivering a premier bakery cafe experience in the heart of neighborhoods everywhere. Guest favorites include the crave-worthy Anaheim Scrambler for breakfast, the grilled-to-perfection Chicken Pomodori Panini for lunch, the kitchen-crafted Pesto Cavatappi pasta for dinner and a slice of rich, flavorful Cinnamon Creme Cake for a sweet treat. The catering menu includes freshly scrambled eggs and Berry & Almond Overnight Oats, baskets of assorted specialty sandwiches, hot signature pastas, homemade soups and perfect additions. Corner Bakery was recently recognized by TripAdvisor as a “Top U.S. Restaurant Chain” for 2019 and ranked one of Franchise Times’ “Top 200” brands in the franchise space. Corner Bakery restaurants are owned and operated by CBC Restaurant Corp. with nearly 200 company-owned and franchised locations around the country. For more information, visit cornerbakerycafe.com, or follow Corner Bakery on Facebook, Instagram and Twitter.
