BAB Holdings, Inc., the Chicago-based operator and franchiser of Big Apple Bagels, My Favorite Muffin, and Brewster's Coffee concept stores, announced today that it has purchased the assets of Jacobs Bros. Bagels, a Chicago area chain. Through the purchase, BAB acquires eight retail locations in addition to a central commissary facility. Five of the locations, which had been acquired by Jacobs from Brueggers Bagel Bakeries, will be converted to BAB's tri-brand concept, which features all three of its brands.
The purchase price was disclosed as $950,000 in cash plus warrants. It is anticipated that revenues generated by the newly-acquired stores will exceed $4,000,000.
"We are confident that our tri-brand concept will be received enthusiastically in our home market, as it has in other areas," said Michael Evans, president and CEO of BAB Holdings. "Additionally, the commissary facility we have acquired will provide an added advantage for the expansion of our E-commerce business."