When the owner of Tatte Bakery & Café in Cambridge and Boston was approached by Panera Bread (NASDAQ: PNRA) regarding a multi-million dollar joint venture, she retained Burns to guide her through this very complex process. Panera wanted to partner with Tatte to rebrand certain Panera Bread cafes and open additional Tatte Bakery cafes.
In order to do the deal, Burns first had to restructure four existing Tatte entities, which required a creative and meticulous approach to avoid adverse tax treatment. The result was the newly created Tatte Holdings, LLC. We also negotiated the operating agreement, long-term employment agreement, and services agreement for Tatte’s owner.