New World, based in Eatontown, NJ, agreed to pay $160 million in cash and assume $30 million in liabilities to take Einstein out of bankruptcy, where it has been for more than a year.
For the $190 million, New World acquires Einstein's 458 bagel stores in 29 states, a Los Angeles manufacturing plant and its headquarters in Golden, a city west of Denver, where 130 people work.
New World, by contrast, owns or franchises about 347 stores under the New World Coffee, Manhattan Bagel and Chesapeake Bagel Bakery brands. The company also owns manufacturing plants in New Jersey and Los Angeles and a coffee roasting plant in Connecticut.
Combined, the company will have almost 800 retail outlets.
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