Apr
05
Purchase of Panera Fuels a Fast-Growing Coffee-Bagels-and-Doughnuts Conglomerate
Posted in: Uncategorized
JAB Holding Co. agreed to buy Panera Bread Co. for about $7.5 billion, adding a fast-growing U.S. bakery chain to a food empire that spans coffee, bagels and doughnuts.
Panera investors will receive $315 per share in cash, the companies said in a statement Wednesday. That’s 20T higher than the closing price on March 31, the last trading day before Bloomberg reported Panera was considering a sale after receiving interest.
The agreement includes assumption of $340 million in debt. Panera shares rose as much as 13% to $310 in pre-market trading.
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