Einstein Noah Restaurant Group Completes Multiyear Deleveraging

Franchising.com:

Einstein Noah Restaurant Group, Inc., a leader in the quick-casual segment of the restaurant industry operating under the Einstein Bros.(R) Bagels, Noah’s New York Bagels(R), and Manhattan Bagel(R) brands, today announced that it has completed a multiyear period of deleveraging its balance sheet and will now re-allocate its available cash flows to growth priorities and returning cash flows to shareholders.

Jeff O’Neill, Chief Executive Officer and President of Einstein Noah, stated, “The capital efficiency of our franchise first growth model, coupled with the expectation that our cash taxes will be immaterial over the next several years allows us the flexibility to accelerate our growth plans and return capital to our shareholders. This total-return strategy positions Einstein Noah to reward shareholders in a variety of ways over the long run as we execute our plan.”

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