Corner Bakery is pleased to announce that it has been acquired by Pandya Restaurant Growth Brands, LLC (PRGB), one of the Rohan Group of Companies, owned by the real estate investor and restaurant operator, Jignesh (Jay) Pandya of Bucks County, Pennsylvania. PRGB will now assume ownership of Corner Bakery, purchasing the brand from affiliates of Roark Capital Partners. Terms of the private transaction were not disclosed.
The Rohan Group of Companies is a well-established organization with ownership interests in a wide array of business enterprises, including operations with multiple franchised restaurant concepts. Rohan Group affiliate Engage Brands purchased the Boston Market chain of Restaurants in April and has been working to expand the Boston Market brand by opening restaurants and expanding its menu. Pandya sees opportunities for strategic alliances between Corner Bakery and Boston Market.
"Our acquisition of Corner Bakery aligns with what we believe families are seeking - high quality kitchen crafted food and good, consistent customer service," stated Pandya.
"We are very pleased to partner with Pandya Restaurant Growth Brands as we seek to expand our brand," said Frank Paci, chief executive officer of Corner Bakery. "Pandya Restaurant Growth Brands brings an enthusiastic, experienced, and successful ownership group to Corner Bakery, as well as access to resources that we need to continue to operate our business in this challenging environment. With the strategic and financial backing Jay and his team bring, we will continue to focus on key operational initiatives to improve guest experience, menu development, and the growth of our brand. We are now well-positioned to achieve future success during a period of unprecedented disruption for our industry."
"I am delighted to be a part of Corner Bakery, an outstanding restaurant chain with a superb, high quality menu. I look forward to working with and being a resource for the more than 3400 Corner Bakery team members, and expanding this genuinely great brand," said Mr. Pandya.