Au Bon Pain (, meaning "at (or 'to') the Good Bread") is an American fast casual restaurant, bakery, and café chain headquartered in Richardson, Texas and operates 175 locations in the United States, and Thailand. The company is currently owned by AMPEX Brands. Au Bon Pain serves baked goods such as bread, pastries, croissants, and bagels as well as tea, coffee and espresso beverages, breakfast foods such as egg sandwiches, and lunch items such as soup, salads, and sandwiches. The company also offers catering services. Most of the company's locations are found on the East Coast of the United States, notably Philadelphia, New York City, and Boston. Locations are either company-owned or franchised. Most of the company-owned locations are in Boston, Chicago, New York, Philadelphia, Pittsburgh and Washington D.C. while franchise locations are operating in 19 states around the country, as well as internationally. The business model currently favors locations at colleges, hospitals and transportation stations. History Pavailler, a French manufacturer of baking equipment, established the company as a showcase for its ovens in 1976 at Faneuil Hall in Boston. The company's principals included Louis Rapuano, Pavailler, and two minor investors. Pavailler contributed baking machinery to the venture. Au Bon Pain sold croissants, pastries, and bread produced by French bakers. In 1977, it opened stores in Hackensack, New Jersey and New York City. In 1978, Au Bon Pain was acquired by Louis I. Kane, a venture capitalist who liked the aroma of the products, for (equivalent to million in ). The business model was changed to sell baked goods instead of ovens. Francois Marin was hired to open and manage the first Au Bon Pain in Boston's Quincy Market. By 1980, Au Bon Pain had over (equivalent to million in ) in sales, but was still losing money. In 1981, the company was suffering from its debt and on the verge of bankruptcy, and a 60% interest in the company was acquired by Ronald M. Shaich and his father. In 1991, the company listed on the stock market via an initial public offering. In 1993, the company acquired Saint Louis Bread Company, the predecessor of Panera Bread, for (equivalent to million in ). The company also acquired the U.S. bakery locations of Warburtons, which were converted to Au Bon Pain locations. In 1996, the company announced plans to upgrade the interior of its stores after reporting a loss. In 1997,