Investment firm JAB Holdings is expanding its food empire with the acquisition of Panera Bread Co., which is expected to be finalized in Q3 2017. JAB will acquire Panera Bread for $315 per share, a transaction valued at $7.5 billion. The deal will also include approximately $340 million of net debt.
JAB has acquired a number of breakfast and coffee companies in the last several years, including Peet’s Coffee, Caribou Coffee, and Keurig Green Mountain. The firm also owns Stumptown Coffee Roasters, Espresso House, and Krispy Kreme. The acquisition of Panera is JAB’s first foray into the “fast casual” restaurant market.
Missouri-based Panera Bread operates approximately 2,000 locations across the U.S. JAB will grant control to local management, as it as done with previous deals, Bloomberg reported. Ron Shaich, Founder, Chairman and CEO of Panera, will continue to run the business following the acquisition.
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“Our success for shareholders is the byproduct of our commitment to long-term decision making and operating in the interest of all stakeholders, including guests, associates, and franchisees,” said Shaich in a statement. “We believe this transaction with JAB offers the best way to continue to operate with this approach.”
