Le Pain Quotidien, The Little Beet and Table by Little Beet have combined to form a new operating company known as Convive Brands.
Previously, the three restaurant chains were owned by Aurify Brands whose founders, John Rigos and Andy Stern, will continue as investors in Convive Brands. Eldridge Industries, the private investment firm that has supported the growth of Little Beet and financed the acquisition of LPQ, “has been instrumental in the formation of Convive Brands’ operating platform,” per a release announcing the deal. Jon Weber will serve as CEO of Convive Brands.
“This transition of the brands from Aurify to Jon and the team at Convive is consistent with our vision of identifying and scaling brands with potential to a certain stage and then having a talented team take them to the next level. We are confident that under Jon's leadership and as part of the new Convive platform, the brands will achieve tremendous growth and success,” Stern said in a statement. Stern is co-CEO of Aurify Brands.
Le Pain Quotidien is a European bakery and cafe chain with 56 U.S. locations. The Little Beet is a vegetable-forward, fast-casual brand with 12 locations and Table by Little Beet is a full-service restaurant in New York City.