Einstein Noah sells to JAB
JAB Holding is acquiring the operator of Einstein Bros. Bagels and Noah's Bagels in a deal worth around $374 mil, or $20.25 per share in cash. Einstein Noah Restaurant Group's (BAGL) shares skyrocketed 50.5% to 20.15 on the news. JAB Holding's java-heavy portfolio already includes majority stakes in Peet's Coffee & Tea, Caribou Coffee and D.E Master Blenders 1753.