Blockbuster restaurant deal
Panera Bread has been acquired by a European firm with a growing U.S. presence.
The fast-casual bakery/café brand has agreed to be acquired by JAB Holding Company, the investment arm of the Reimanns of Germany, for $7.5 billion, including the assumption of about $340 million in debt.
JAB’s U.S. holdings include Krispy Kreme Caribou Coffee, Einstein Noah Restaurant Group Inc., Peet's Coffee & Tea, and Keurig Green Mountain.
Under the terms of the deal, JAB would pay $315 in cash a share, representing a premium of 30% to Panera’s 30-day volume-weighted average stock price as of March 31.
The fast-casual bakery/café brand has agreed to be acquired by JAB Holding Company, the investment arm of the Reimanns of Germany, for $7.5 billion, including the assumption of about $340 million in debt.
JAB’s U.S. holdings include Krispy Kreme Caribou Coffee, Einstein Noah Restaurant Group Inc., Peet's Coffee & Tea, and Keurig Green Mountain.
Under the terms of the deal, JAB would pay $315 in cash a share, representing a premium of 30% to Panera’s 30-day volume-weighted average stock price as of March 31.