LeDuff America, Inc. has agreed to acquire the Mimi’s Café restaurant chain from Bob Evans Farms, Inc. for $50 million.Mimi’s Café has 145 locations in 24 states. LeDuff America is headquartered in Dallas and operates a collection of café-bakeries and coffee houses, and related manufacturing in North America. LeDuff America is a subsidiary of Groupe LeDuff S.A., a global bakery and restaurant company based in France. Groupe LeDuff also owns other U.S. chains such as Bruegger’s and La Madeleine.
“After closing the sale, Bob Evans will have reset itself to better focus efforts and investments on achieving our long-term commitment to grow earnings per share 8% to 12% annually,” said Steve Davis, chairman and chief executive officer. “The agreement with LeDuff America reflects the review of strategic alternatives for Mimi's Cafe that was announced in November 2012 which included a careful and diligent process to find a buyer for Mimi’s Cafe that would provide value for Bob Evans shareholders and a good strategic fit to support the long-term growth potential of Mimi's Cafe.”
The transaction is expected to close within the next 45 days.
