Krispy Kreme Owner Buys Panera for $7.5 Billion
JAB, the german conglomerate owner of Krispy Kreme, Einstein an Noah bagel chains, has an agreement to purchase healthy sandwich chain Panera for $7.5 billion. JAB was among possible suiters including McDonald’s, Starbucks, KFC Parent company Yum!, and Dominos.
Panera and JAB said they hope the deal would close in the third quarter of this year.
Panera founder and CEO Ron Shaich said in a statement that selling to JAB would allow Panera to increase its investments in its digital and mobile ordering technology as well as increase its focus on using healthier ingredients.
AB partner and CEO Olivier Goudet added that he and the rest of his team “strongly support Panera’s vision for the future, strategic initiatives, culture of innovation, and balanced company versus franchise store mix.”
So fans of Panera’s soup and sandwiches probably shouldn’t expect any major menu changes as a result of the deal.