Seattle-based Starbucks Coffee Co. has entered into a definitive agreement to acquire San Francisco-based Bay Bread LLC and its La Boulange bakery brand, as well as to hire renowned French baker Pascal Rigo.
Starbucks plans to introduce many of Pascal’s recipes into its U.S. company-operated stores under the La Boulange brand, while also accelerating the expansion of the company’s retail footprint over time in key U.S. cities.
“This is an investment in our core business. After more than 40 years, we will be able to say that we are bakers too,” says Howard Schultz, Starbucks chairman, president and ceo. “In La Boulange bakery and Pascal, we’ve found a company and a culinary artist who share our passion for creating premium products, reinventing and elevating an entire product category, and delivering the best customer experience.”
In recent years, Starbucks has updated to its food offerings based on customer feedback, with food now accounting for $1.5 billion in revenue at its U.S. company-operated stores.