Bruegger’s Bagels acquires Timothy’s restaurant

Boca Raton, Fla. Private investment firm Sun Capital Partners said Friday that Timothy’s Coffees of the World has been purchased by Green Mountain Coffee Roasters for about $157 million in cash.

Immediately prior to the purchase, Timothy’s sold its franchise restaurant operation to Bruegger’s Enterprises, another Sun Capital portfolio company, which operates fast casual neighborhood bakery-cafes in 24 states.

The restaurant operation includes 139 locations across Canada doing business under the Timothy’s World Coffee, Michel’s Baguette Bakery Cafe, and mmmuffins brands, as well as Levain Bakery, a high-end specialty bakery. The Bruegger’s acquisition of the Timothy’s retail operation not only expands the company’s footprint into Canada, but also adds new distribution channels for the Bruegger’s kettle-boiled bagels.