ST. LOUIS (KTRS) Panera Bread is expanding with the purchase of Au Bon Pain, the Boston-based bakery-cafe chain that had been part of Panera before its sale in 1999. Au Bon Pain has 304 stores nationwide and will enable Panera to grow to hospitals, universities and urban sites. It was part of Panera before 1999, when it was sold as Panera refocused on its main business.

Also Wednesday, the company announced that its founder, Ron Shaich will step down as CEO of Panera Bread Jan. 1, 2018, but will remain board chairman. Blaine Hurst, Panera’s president, will become CEO. Hurst joined Panera in 2011 to take over digital services that would become Panera 2.0 and the company’s e-Commerce platform. He was named president in December, 2016 to oversee Panera’s technology, delivery and catering units.

In a release, Panera says Shaich will be a significant investor in Panera and continue to work on strategy, communications and acquisitions for the company. In a release, Panera says Shaich will be a significant investor in Panera and continue to work on strategy, communications and acquisitions for the company.