Update: Due to an editing error by Louisa, who's bad with numbers, the original headline gave the purchase price as $1 million. It is $100 million, according to reports.
Well, it's not Facebook buying Instagram for $1 billion. But in the world of baking, it's pretty close:
Starbucks has agreed to buy the Bay Area bakery La Boulange for $100 million.
So, what does that mean? Reports say that Starbucks is granting customers what they have been wanting, more wholesome and better food options at stores.
The plan is to buy the 19 chain bakery stores and hire La Boulange founder and chef Pascal Rigo. The Starbucks company will roll out La Boulange goods in the Bay Area first, moving through the rest of the country.
Reports say the idea is to not only get better food options into the stores but to grow the La Boulange brand and, eventually, roll out retail for grocery stores.
Napa currently has five freestanding Starbucks coffee shops and two operating inside north Napa retailers and .
A sixth downtown has been approved by city staff and opponents have until June 18 to submit written appeals of the decision.
The only other Starbucks in Napa County are the two in American Canyon, according to the company's website.
What do you think of this purchase? Do you think it will affect the La Boulange brand? Or will you be happy to see baked goods from La Boulange sold at Starbucks now?