Founded in 1976 and based in Scottsdale, AZ, is a fast casual bakery-cafe concept that serves a variety of freshly prepared bakery foods, sandwiches, salads, and breakfast offerings.
The sellers sought to obtain significant liquidity from sale of the business but also wanted the opportunity to participate in the continuing growth of the business.
Engagement Process and Outcomes
Thoughtful Process – Brookwood approached the relevant universe of financial and strategic buyers, focusing on those that would benefit most from the Company’s market position in the rapidly growing Southwest U.S.
Compelling Outcome – Brookwood structured an earnout transaction with Panera Bread Co. (NASDAQ: PNRA) which was seeking a strategic acquisition to gain entry into the metropolitan Phoenix area. The transaction accomplished the sellers’ objectives to obtain partial liquidity but also retain a significant interest in the company and benefit from the operational synergies of being a part of a larger organization. The purchase price reflected one of the highest purchase price multiples in the industry.