• June 5, 2012

Starbucks announced that it will acquire Bay Bread LLC and its La Boulange baker brand from investment firm Next World Group for $100 million in cash.

The acquisition is meant to expand Starbucks's retail footprint in key U.S. cities by expanding its food offerings.

Starbucks said it will sell La Boulange products in its own U.S. retail locations, and will hire the company's French baker, Pascal Rigo.

The La Boulange bakery operates 19 retail locations in the San Francisco Bay area, and also sells products in restaurants, hotels and specialty grocery stores.