Einstein Noah Restaurant Group To Be Acquired By JAB Holding - Quick Facts

(RTTNews) - Einstein Noah Restaurant Group, Inc. (BAGL), a leader in the fast-casual segment of the restaurant industry operating under the Einstein Bros.® Bagels, Noah's New York Bagels®, and Manhattan Bagel® brands and JAB Holding Co. announced a definitive deal, pursuant to which JAB's affiliate would acquire Einstein Noah Restaurant Group for $20.25 per share cash, or a total diluted equity value of some $374 million. The agreement, that is unanimously approved by Einstein Noah Restaurant Group's directors, represents a premium of around 47 percent over Einstein Noah Restaurant Group's 30-day average trading price.

Following the transaction closure, Einstein Noah Restaurant Group would maintain its headquarters in Lakewood, Colorado and would continue operating as a standalone business in the JAB portfolio, consistent with the firm's investment practice. Michael Tattersfield, Chief Executive of Caribou Coffee Company, Inc., another JAB portfolio company, would serve as Chairman of the Board.