Aurify Brands, owner of Le Pain Quotidien, The Little Beet, Melt Shop, Fields Good Chicken and The Little Beet Table, will open Le Pain Quotidien in at least 10 former Maison Kayser locations in New York City early next year.
“We are big believers in New York City and are thrilled to add these strong locations in this key market to our LPQ portfolio,” said John Rigos, co-CEO of Aurify Brands. “This latest expansion of our platform reflects our long-term commitment to our home market, the hospitality industry and the communities we serve, especially during these unprecedented times. It is gratifying to us that our loyal guests across the country are returning to LPQ, and we expect that the addition of these complementary locations across Manhattan will further engage our customer base as we continue to build this quality brand nationally.”
Aurify emerged as the lead bidder for substantially all of Maison Kayser’s locations as part of the latter’s Chapter 11 process. In June, Aurify Brands added Le Pain Quotidien to its roster of brands. Since then, it has reopened or slated for reopening 50 LPQ restaurants to serve new and returning customers in select cities and suburban markets across New York, California, Connecticut, Maryland, Virginia, the District of Columbia, and Florida. The LPQ relaunch by Aurify Brands has created more than 600 jobs to date, with an additional 150 expected to be created when the former Maison Kayser locations are converted to LPQ restaurants and reopened in early 2021. When operations return to full capacity as COVID-19 restrictions are further lifted, Aurify Brands projects total job creation of 1,200 or more across the LPQ portfolio.
Katten Muchin Rosenman LLP served as legal counsel to Aurify Brands; CohnReznick LLP served as financial advisor and RCS Real Estate Advisors served as real estate advisor on the transaction.
