BOSTON The management of Au Bon Pain and the private-equity firm LNK Partners said they have completed their purchase of a controlling interest in the bakery-cafe brand for $100 million.
The sellers include a division of PNC Financial Services Group Inc., AlpInvest Partners N.V. and contracting feeding giant Compass Group PLC, which retains an undisclosed minority stake.
The investment is expected to support Au Bon Pain’s expansion in the United States and abroad. The company posted systemwide sales of nearly $300 million in 2007. Au Bon Pain consists of 226 unit fast-casual bakery-cafes that are typically supplied by commissaries.