JAB acquires Panera Bread in $7.5 billion deal

ST. LOUIS, USA - JAB Holding Company and US bakery-café chain, Panera Bread Company today announced a definitive merger of the companies, under which JAB will acquire Panera for $315 per share in cash.  The deal is valued at approximatly $7.5 billion and will include the assumption of approximately $340 million net debt held by Panera.
 
Ron Shaich, Founder, Chairman and CEO of Panera, commented ‘We are pleased to join with JAB, a private investor with an equally long-term perspective, as well as a deep commitment to our strategic plan.’
 
Panera Bread Company currently operate over 2,000 bakery-cafes across the US and in Ontario, Canada, recording an estimated $5.2 billion turnover in 2016.
 
Olivier Goudet, JAB Partner and CEO, said ‘We strongly support Panera's vision for the future, strategic initiatives, culture of innovation, and balanced company versus franchise store mix. We are excited to invest in and work together with the Company's management team and franchisees to continue to lead the industry.'
 
This merger is the latest deal in JAB’s rapid acquisition trail throughout the global coffee industry, with a strong focus on the US market. In the last 5 years, JAB has acquired a number influential players such as Peet’s Coffee & Tea, Caribou Coffee Company, Einstein Noah Restaurant Group, and Stumptown Coffee Roasters.
 
‘JAB is very quickly becoming one of the three most influential companies globally in coffee, standing alongside Starbucks Corp. and Nestle SA.  The acquisition of Panera will provide further opportunity for JAB to grow its business across the United States.’ says Jeffrey Young, Managing Director of Allegra World Coffee Portal.