Panera Bread Co Inc was originally organized in March 1981 as a Massachusetts corporation under the name Au Bon Pain Co., Inc. and reincorporated in Delaware in June 1988. In December 1993, the Company purchased Saint Louis Bread Company. In August 1998, it sold its Au Bon Pain Division and changed its name to Panera Bread Company. The Company is a national bakery-cafe concept with 1,972 Company-owned and franchise-operated bakery-cafe locations in 46 states, in the District of Columbia, and Ontario, Canada. The Company operates under the Panera Bread, Saint Louis Bread Co. and Paradise Bakery & Cafe trademark names. Its bakery-cafes are located in urban, suburban, strip mall, and regional mall locations. The Company operates as three business segments: Company bakery-cafe operations, franchise operations, and fresh dough and other product operations. The Company's bakery-cafe operations segment consisted of901 Company-owned bakery-cafes and its franchise operations segment consisted of 1,071 franchise-operated bakery-cafes, located throughout the United States and in Ontario, Canada. Its fresh dough and other product operations segment, which supplies fresh dough and other products daily to Company-owned and franchise-operated bakery-cafes, consisted of 24 fresh dough facilities (22 Company-owned and two franchise-operated), located throughout the United States and one in Ontario, Canada. The Company competes with a variety of national, regional and locally-owned food service companies, including specialty food, casual dining and quick-service restaurants, bakeries, and restaurant retailers. The bakery-cafes compete in several segments of the restaurant business: breakfast, lunch, gathering place, dinner, take home, catering, delivery, and consumer packaged goods.