Panera buys majority stake in small local bakery
Panera Bread Co., the St. Louis baked goods and sandwich chain, has bought a majority stake in the small Brookline-based Tatte Bakery & Cafe.
Panera bought a slightly over 50 percent stake in the local bakery, with five locations in Brookline, Cambridge and Boston, said Tzurit Or, who started Tatte in 2007. The price was not disclosed.
The bakery, known for its Middle Eastern influenced breakfast and lunch items, from pistachio croissants to salads with halloumi cheese, will continue to operate as an independent company, according to Panera Bread.
Tatte, a hangout for Brookline hipsters and Kendall Square tech workers, appeals to high-end consumers, Panera said.
“We believe that this bakery-cafe concept has unique growth potential in markets that are complementary to Panera and want to help support that growth,” Panera said in a statement.