Dallas-based Corner Bakery has been sold to a Philadelphia-based restaurant company that recently purchased Boston Market.
Pandya Restaurant Growth Brands paid an undisclosed amount for the chain of 175 restaurants from an Atlanta-based private equity firm, Roark Capital Partners. Roark has owned Corner Bakery, formerly part of Dallas-based Brinker International Inc., since 2011.
The acquisition will give Corner Bakery “access to resources that we need to continue to operate our business in this challenging environment,” said Frank Paci, CEO of Corner Bakery. “We are now well-positioned to achieve future success during a period of unprecedented disruption for our industry.”
About 143 locations — 96 corporate-owned and 43 franchised — have reopened in various capacities from dine-in to takeout or curbside pickup since restaurants were closed temporarily by the pandemic. The restaurants are in 23 states and Washington, D.C.
“Our acquisition of Corner Bakery aligns with what we believe families are seeking — high-quality kitchen-crafted food and good, consistent customer service,” said Jignesh “Jay” Pandya, a real estate and restaurant operator based in Bucks County, Pa. He owns several businesses, including multiple franchised restaurant concepts operated under the Rohan Group of Cos.
One of his affiliated companies purchased Boston Market in April and has been working to expand the brand locations and its menu. Pandya said in a news release that he “sees opportunities for strategic alliances between Corner Bakery and Boston Market.”
Pandya was part of a group that had plans to expand the global sport of cricket throughout the U.S. that included a proposed 15,000-seat stadium in Allen. The plan to build a sports stadium on State Highway 121 was changed to a mixed-use development earlier this year.
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October 31, 2020 at 05:29AM
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Corner Bakery is sold to the owner of Boston Market - The Dallas Morning News
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