Big Money has entered the bagel industry, according to the New York Times.
Just weeks ago, PopUp Bagels received an investment from Tiger Global at a $300M valuation as they race to open 300 locations across the country. The Manhattan Bagel Equity Fund, a bagel-specific investment fund “focused on acquiring, rebranding and scaling high-performing bagel shops across the United States,” has taken over two NYC-based shops with a target of rolling up 400 bagel shops nationally.
Private Equity isn’t new to bagels — Panera Brands owns chains like Einstein Bros., Bruegger’s, and Noah’s — but what is different is that “mass brands have never seriously claimed to match the quality of a freshly baked slow-risen, hand-rolled bagel. Many of the new start-ups promise to do just that,” reports Julia Moskin.
Will they succeed? Reply to this email or join the conversation on Instagram — I’d love to hear your take.
But that’s not all! From a bromated flour ban that may shake up New York’s bagel (and pizza) industry, to the West Coast’s emerging bagel scene, here are the top stories from last month.
- Sam Silverman
Your Bagel Ambassador 🥯
