Panera Bread Sold! What? Our favorite fast casual chain has been sold? Bloomberg reported earlier this week that Panera Bread was allegedly working with advisors to go over potential strategic options, aka was looking for a merger. They will now come under the holding company that owns Peet’s Coffee & Tea, which is not a bad thing.
Panera Bread Sold
JAB, has invested in several coffee-focused empires, including Keurig Green Mountain Inc. and Caribou Coffee.
“By any measure, Panera has been one of the most successful restaurant companies in history. What started as one 400 square foot cookie store in Boston has grown to a system with over 2,000 units, approximately $5 billion in sales, and over 100,000 associates…”
I first read that Panera Bread sold over at Foodable Network where they site the companies expect to close the deal in the third quarter.
So what does this mean for Panera Bread lovers? Personally, I don’t foresee any major changes to the brand. After all, over the last six quarters, the company has consistently reported better-than-expected earnings per share. In the first quarter, Panera reported a 5.3% growth in sale at company-owned stores.
Acquisitions like this are commonplace and the fact that Panera Bread sold is just another in a growing trend in business.