James Park and Michael Staenberg, co-owners of Garbanzo Mediterranean Fresh, have acquired a stake in La Boulangerie de San Francisco, an eight-unit French-themed restaurant chain known for its scratch-made pastries, breads and sandwiches. Financial terms of the deal were not disclosed.
La Boulangerie was founded in 1995 by French baker Pascal Rigo. Originally known as the Pine Street bakery, and later as La Boulange, Rigo sold the company to Starbucks in July 2012. The coffee giant shut down the chain three years later, only to be reopened again by Rigo under its present name. Rigo and Nicolas Bernardi, CEO of La Boulangerie will remain with the company, per a release announcing the deal.
Park and Stanberg will work with Rigo and Bernardi to expand the Garbanzo and La Boulangerie brands into new and existing geographic markets. In addition, they will look to develop concepts to address gaps in the dining landscape while exploring attractive acquisition opportunities.