Panera Bread is selling Au Bon Pain business

Ampex Brands is buying Au Bon Pain from Panera Bread Co. with plans to expand the bakery chain. Panera had been seeking to shrink Au Bon Pain's footprint and had converted some of its stores into those under its own banner. Ampex CEO Tabbassum Mumtaz said that there will be opportunities to grow Au Bon Bain's business going forward. “There is a lot of green space,” he said. “As the country returns to normal, we believe the cafes will, too.”