First Watch Restaurants, Inc. Acquires Bread & Company



First Watch Restaurants, Inc. Acquires Bread & CompanyFirst Watch Restaurants, Inc., the country’s leading Breakfast, Brunch and Lunch concept, today announced that it has acquired Nashville-based Bread & Company including the two restaurants currently operating in Green Hills and West End, all recipes, marks and intellectual property. Terms of the deal were not announced.

The West End restaurant, located at 2525 West End Avenue continues to operate as usual. First Watch has entered into a new long-term lease for the space which will allow the restaurant to remain open and serve customers for many years to come.

The Green Hills Bread & Company located at 4105 Hillsboro Pike closed at the end of business on November 26, 2014 to allow developer Brookside Properties to commence with an extensive renovation of the building that is expected to be completed by mid to late 2015. As part of the new long-term lease entered into by First Watch for the space, it will re-open as Bread & Company upon completion of the renovation.

Bread & Company was founded in 1992 by Anne Clay as Nashville’s first artisan bakery serving only breads, rolls, pastries and coffee in a space with just 15 seats. In 1995, Clay’s son John III joined the company and helped evolve the brand to include salads, soups and sandwiches on the menu. Bread & Company built a loyal following and became well-known for its award-winning baked goods, Signature Fruit Tea, Tomato Basil Soup, Strawberry Fields Salad and its Iroquois Chicken Salad sandwich which was voted “Best Sandwich” by Nashville Lifestyles Magazine.

“Bread & Company built a loyal following in Middle Tennessee over many years and John and his family did a great job growing the brand and concept,” said Ken Pendery, President and CEO of First Watch. “When John decided that it was time for the next adventure in his life, we began discussing how First Watch might be in a position to provide an ideal transition as part of our successful expansion in Nashville. Combining the strengths of both brands means an incredibly differentiated offering for fans of both concepts”

“For more than 20 years, Bread & Company has been serving our friends and neighbors in Nashville and Middle Tennessee. We are proud of the brand and the concept we have developed and greatly appreciate our loyal customers,” said John Clay III. “We are pleased and happy to be passing the torch to a dynamic company like First Watch. I am confident that they will do a great job preserving all that is unique and special about Bread & Company and they are well-equipped to evolve the concept into something I always believed it would be.”

About First Watch

First Watch specializes in award-winning, made-to-order Breakfast, Brunch and Lunch. A recipient of more than 200 “Best Breakfast” and “Best Brunch” accolades, First Watch offers traditional favorites, such as omelets, pancakes, sandwiches and salads, and unique specialty items like the fan-favorite Chickichanga® and Fresh Fruit Crepes. Named a 2013 “Next 20” Emerging Brand by Nation’s Restaurant News, and a 2014 Top Franchise Value by FSR Magazine, First Watch is the largest and fastest-growing daytime-only restaurant concept in the U.S. with more than 120 restaurants in 17 states including one each in Brentwood and Cool Springs. It also operates 20 restaurants under The Good Egg name in Arizona. For more information, visit www.firstwatch.com.

Contact:
Chris Tomasso
First Watch Restaurants, Inc.
941-907-9800