Einstein Bagel parent — Einstein Noah Restaurant Group (BAGL) — is being acquired for about $374 million.
German private-equity firm JAB Holding is buying the firm for about $20.25 a share. The price is a 47% premium on the stock’s average trading over the last three months.
Einstein Noah Restaurant owns popular stores such as Einstein Bagel and Manhattan Bagel. The company has more than 855 locations in 42 states across the US.
JAB Holding is an affiliate of Joh A. Bensicker Group, a German holding company that owns Peet’s Coffee and Caribou Coffee.
BAGL stock is up a whopping 50.5% Monday afternoon. Company shares are currently trading for about $20.15.
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