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AU BON PAIN TO ACQUIRE THE SAINT LOUIS BREAD COMPANY

 BOSTON, Nov. 11 /PRNewswire/ -- Au Bon Pain Co., Inc. (NASDAQ-NMS: ABPCA), headquartered in Boston, today announced the signing of a definitive agreement to acquire the Saint Louis Bread Company of St. Louis, Mo., for $24 million cash plus additional consideration based upon future performance. The closing of the transaction is subject to customary closing conditions.
 Saint Louis Bread Company owns and operates 20 bakery cafes in the St. Louis area and has executed three area franchise development agreements. Saint Louis Bread's bakery cafes offer a broad range of freshly baked sourdough and other breads and bakery products, as well as soups, sandwiches, salads, coffee and cafe beverages. Saint Louis Bread's revenues for the ten months ended Oct. 31, 1993 were $14.6 million.
 The existing management of Saint Louis Bread will continue in place and be charged with overseeing the growth of the acquired business and its concept. Au Bon Pain expects to support this growth by providing both capital and organizational resources.
 Ron Shaich, co-chairman and co-chief executive officer of Au Bon Pain stated, "Saint Louis Bread Co. is an extremely well-managed, high-growth company with a proven track record. It is a successful and exciting suburban neighborhood bakery cafe concept.
 "The business combination of Au Bon Pain and Saint Louis Bread will support our goal of dominating the bakery cafe category nationally. As a result of this transaction, Au Bon Pain will have growth opportunities in both Au Bon Pain's traditional urban and mall locations, as well as new growth opportunities in suburban neighborhood locations served by the Saint Louis Bread concept."
 Ken Rosenthal, founder of Saint Louis Bread Co. stated, "Saint Louis Bread Co. will become part of Au Bon Pain, a larger and highly successful corporation that will provide the necessary support to help insure the future growth of Saint Louis Bread Co." David Hutkin, president and chief executive officer of Saint Louis Bread Co. added, "Our new relationship with Au Bon Pain will create exciting opportunities for our associates and suppliers."
 Au Bon Pain consists of 172 bakery cafes, of which 133 are company-operated and 39 are franchised. For the forty weeks ended Oct. 2, 1993, revenues were $91.3 million.
 -0- 11/11/93
 /CONTACT: Anthony J. Carroll, chief financial officer for Au Bon Pain, 617-423-2100/
 (ABPCA)


CO: Au Bon Pain Co., Inc.; Saint Louis Bread Co. ST: Massachusetts, Missouri IN: FOD, LEI SU: TNM

CM-DJ -- NE008 -- 3086 11/11/93 08:59 EST
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Publication:PR Newswire
Date:Nov 11, 1993
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