Corporate History
Bruegger's was founded in 1983 by Nordahl Brue and Mike Dressell, with the first store opening in Troy, New York.
The business was bought by Quality Dining (a franchisee) in June 1996 for $142 million in stock, with the founders joining the Quality Dining board. However the merge was not a comfortable one, within a short period Brue and Dressell became concerned with the ongoing operations and scope for growth, leading to a critical U.S. Securities and Exchange Commission (SEC) filing alleging a lack of strategic direction. Holding a combined 26% stake, Brue and Dressell called for reorganization of Quality Dining, resulting in Bruegger's being resold to Brue and Dressel in October 1997 for $45 millon. Brue has since referred to the original sale as part of his "biggest mistake".
In May 2003, James J. Greco and Sun Capital Partners acquired the company from the founders.
Today, approximately 300 Bruegger's locations operate in 26 U.S. states, the District of Columbia, and Canada. The company is headquartered in Burlington, Vermont. Bruegger's announced $200 million in revenue in 2008.
On November 13, 2009, Bruegger's purchased the retail operations of Timothy's World Coffee, mmmuffins, and Michel's Baguette through a wholly owned subsidiary called ThreeCaf Brands Canada, Inc. Bruegger's intends to continue operations of all three brands. The three brands combined operate approximately 140 locations throughout Canada.
On March 17, 2011, the French Le Duff group announced the buyout of Bruegger's. Le Duff already has a U.S. presence with its La Madeleine brand, which has 60 units domestically. Le Duff plans to "Francify" some Bruegger's locations and will combine other units with Brioche Dorée outlets.
In December 2011, James J. Greco announced he would be stepping down as CEO at the end of the year to pursue other opportunities.
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