Retail Industry
Industry: Email Alert RSS FeedNew World Coffee Primed for Chesapeake Bagel Buy.
Specialty Coffee Retailer, September, 1999
New World Coffee-Manhattan Bagel, Inc., signed an agreement to acquire Chesapeake Bagel Bakery from Atlanta-based AFC Enterprises (Seattle Coffee Company's parent company). If the deal goes through, the combination will make New World's Manhattan Bagel subsidiary the second largest company in the retail bagel industry with approximately 365 stores nationwide.
Under terms of the agreement, New World plans to add 89 Chesapeake franchised locations to the Manhattan Bagel system. All are expected to continue to be operated by franchisees. New World plans to finance the acquisition through a combination of cash and debt; no new stock is expected to be issued.
New World Coffee-Manhattan Bagel currently owns, operates, franchises and licenses stores under...
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