TORONTO — Franchise Management Incorporated (FMI), a New-Brunswick-based franchise operator, will assume ownership and management of 12 Panera Bread bakery-cafes in Ontario.
“Given their local market knowledge and track record of successfully purchasing and growing U.S.-based concepts in Canada, we cannot be more excited to welcome FMI to the Panera family. We expect they will be great partners for us for years to come,” says Michael J. Bufano, CFO and SVP, Panera Bread Company.
The purchase includes the Panera Bread locations in Don Mills, Richmond Hill, Markham, Mississauga (Square One), Oshawa, Whitby, Ajax and Aurora in the GTA, as well as the bakery-cafes in Barrie, Ottawa, Belleville and Kingston.
“FMI is eager to bring its operations expertise to support the Panera brand in Canada. We are extremely familiar with the brand’s value for consumers seeking a fresh and handcrafted dining experience. We foresee immense potential to grow and extend across Canada. We are truly excited to become a part of such a vibrant business opportunity,” says Matthew Leech, director of Marketing, FMI.