“For the last 20 years, I’ve spent 20 percent of my time telling people what we’ve done to grow
and another 20 percent of my time telling people what we’re going to do to grow,” Mr. Shaich said in an interview.
A Coffee Empire Grows, as Panera is Sold to JAB Holding Company -
By STEPHANIE STROM and CHAD BRAYAPRIL 5, 2017
LONDON — Over the last several years, a European family business has spent more than $40 billion assembling a coffee empire.
On Wednesday, JAB, which is privately held, said it would add the Panera restaurant chain to
its growing empire of American coffee and food favorites for $7.5 billion, including debt.
“These guys have a track record for investing in great brands and companies and letting management do their jobs.”
Under the terms of the transaction, JAB BV, the investment vehicle executing the transaction for JAB, would pay $315 a share, representing a premium of 30 percent
to Panera’s 30-day volume-weighted average stock price as of March 31, the last trading day before media reports that Panera was exploring a potential sale.
Ron Shaich, Panera’s personable chief executive who controls roughly 15 percent of its stock, said
one of the biggest attractions to the JAB deal was the chance to take his company private.
