, UK

Belgian shareholders regain stake at Le Pain Quotidien: report

The chain was helmed by a French entrepreneur for a time.

Le Pain Quotidien returned to Belgian hands after the French group Norac Foods has increased its holding from 15% to 25%, the Brussels Times reported.

Other shareholders also raised their holdings, including major shareholder Cobepa which shares increased from 32% to 43%.

The report, citing L’Echo, noted that CEO Jerry Gamez will soon be replaced by a Belgian. There was an alleged “differences of opinion” between Gamez and the chain’s board.

The international fast casual is currently operating in 22 markets worldwide.

Read full report here
 

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