Panera Bread sells for more than $7 billion in cash
ST. LOUIS, MO/April 5, 2017 (STLRestaurant.News) Our affiliated, STL.News published an AP article this morning announcing that JAB Holding Company has agreed to purchase Panera Bread for more than $7 billion.
While JAB has agreed to purchase the shares at $315 per share. Additionally, JAB has also agreed to assume more than $340 million in debt. The deal is expected to happen in the third quarter of this year.
In recent days/weeks there have been rumors that the company’s stock was in play anticipating a deal raising the stock price.
Another St. Louis based company is being placed in the hands of foreign owners. There hasn’t been any additional information released about how this might effect the St. Louis business landscape.
Panera Bread Company opened for business in 1987 when Ken Rosenthal opened his first location in Kirkwood, Missouri.
JAB Holding Company is a privately held group/company that owns several premium brands including – Espresso House, Peet’s Coffee & Tea, Stumptown Coffee Roasters, Mightly Leaf, Caribore, Einstein Noah, and Krispy Kreme. Additional investments owned by JAB Holding Company that are listed on their website are COTY, Acorn Holdings, JAB Beech, JAB Coffee Holding, JAB Luxury and rb (Health, Hygiene, Home).
The three senior partners that run JAB are Peter Harf, Bart Becht and Olivier Goudet. JAB actively manages most of their brands/investments with offices in Luxembourg, London, Mannheim and Washington D.C.
JAB Holdings B.V. is a wholly owned subsidiary of JAB. JAB Holdings has issued public bonds that are listed on the Euro MTF Market on the Luxembourg Stock Exchange. JAB has a solid investment grade credit rating with Baa1 at Moody’s and BBB+ at S&P.
Peter Harf, Senior Partner and Olivier Goudet, Partner and CEO at JAB Holding Company both have previously served as Chairman of Anheuser-Busch InBev.
STLRestaurant.News will report as additional details are made available to the public.