JAB Holding in advanced talks to buy US bakery chain Panera Bread
05 April 2017
JAB Holding Co, the owner of Keurig Green Mountain and Caribou Coffee, is in advanced talks to buy US bakery chain Panera Bread Co in order to expand in the US, Bloomberg yesterday reported, citing people with knowledge of the matter.
Bloomberg yesterday reported that Panera Bread, which has a market cap of $6.58 billion, is exploring strategic options, including a sale, after receiving takeover interest. (See: Panera Bread receives takeover interest, explores strategic options including a sale)
The report added that Panera Bread was working with advisers to study options and potential suitors could include JAB Holding, Starbucks Corp, and Domino's Pizza.
Panera Bread is a bakery-café fast casual restaurant chain operating in the US and Canada.
Founded in 1987 by its current CEO Ron Shaich, Missouri-based Panera Bread operates more than 2,000 bakery-cafes across the US and Canada selling soups, salads, pasta, sandwiches, bakery items, coffee, teas, smoothies and frozen drinks.
JAB Holding is the investment vehicle of Germany's billionaire Reimann family and focuses on investments in companies with premium brands in the consumer goods sector.
The Luxembourg-based group owns controlling stakes in Jacobs Douwe Egberts, Keurig Green Mountain, global beauty products major Coty Inc, luxury goods makers Jimmy Choo, Bally, Belstaff, hygiene and home products giant Reckitt Benckiser, Krispy Kreme Doughnuts Inc, Stumptown Coffee Roasters, among others.