JAB Extends Global Coffee and Food Empire With $7.5 Billion Acquisition
Investment group JAB is acquiring Panera Bread Company, the US-based restaurant chain, for transaction value of approximately $7.5 billion (including the assumption of $340 million of net debt) to extend its global coffee and food empire.
“By any measure, Panera has been one of the most successful restaurant companies in history,” says Ron Shaich, founder, chairman and chief executive of Panera. “What started as one 400 square foot cookie store in Boston has grown to a system with over 2,000 units, approximately $5 billion in sales, and over 100,000 associates. In more than 25 years as a publicly traded company, Panera has created significant shareholder value. Indeed, Panera has been the best performing restaurant stock of the past twenty years – up over 8,000%.”
Olivier Goudet, JAB partner and chief executive, comments: “We have long admired Ron and the incredible success story he has created at Panera. I have great respect for the strong business that he, together with his management team, its franchisees and its associates, has built. We strongly support Panera’s vision for the future, strategic initiatives, culture of innovation, and balanced company versus franchise store mix. We are excited to invest in and work together with the Company’s management team and franchisees to continue to lead the industry.”
JAB Holding Company and JAB Consumer Fund invest in companies with premium brands, attractive growth and strong margin dynamics in the consumer goods category. Both JAB Holding Company and JAB Consumer Fund are overseen by its three senior partners, Peter Harf, Bart Becht (chairman) and Olivier Goudet (chief executive).
Together, JAB Holding Company and JAB Consumer Fund have controlling stakes in Keurig Green Mountain, a leader in single-serve coffee and beverage technologies, Jacobs Douwe Egberts (JDE), the largest pure-play FMCG coffee company in the world, Peet’s Coffee & Tea, a premier specialty coffee and tea company, Caribou Coffee Company, a specialty retailer of high quality premium coffee products, Einstein Noah Restaurant Group, a leading company in the quick-casual segment of the restaurant industry, Krispy Kreme Doughnuts, a global specialty retailer and wholesaler of premium quality sweet treats, and in Espresso House, the largest branded coffee shop chain in Scandinavia.
