Panera Bread, considered a leader in online ordering of high end fast food, is purchased for $7bn
JAB Holding Company, a Luxembourg-based company, is expanding its empire of coffee-related brands with the acquisition today (April 5) of publicly traded Panera in a deal worth more than $7bn, the investment firm that controls the Krispy Kreme chain announced.
JAB will pay $315 per share and assume $340m in debt, USA Today reports. Panera shares jumped 14.1% in pre-market trading to $312.49.
Bob Derrington, managing director and senior research analyst at the Telsey Advisory group, said Panera’s strong digital platform was attractive to JAB, who also owns other breakfast and coffee shops, including Caribou Coffee, Peet’s Coffee and Read full story ›
Source: The Drum
