Manna Development buys 38 Panera Bread cafes
Manna Development Group said May 15 that it has acquired 38 Panera Bread cafés in Colorado. Financial terms weren’t announced. CapitalSpring led the acquisition financing and recap, while Owl Rock Capital served as a co-lender. Paul Saber and Patrick Rodgers started Manna Development in 2003. With the acquisition, Manna will own over 130 Panera Bread cafes across seven state. Trinity Capital LLC provided financial advice to Manna, while Snell & Wilmer LLP served as legal advisor. CapitalSpring was represented by Chapman & Cutler LLP.
15 May 2018•3 mins read
