Krispy Kreme Owner Buys Panera for Lots of Dough

Krispy Kreme Owner Buys Panera for Lots of Dough

   
  
 
  
    
  
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Talk about a carb overload! JAB Holding Company, a privately held business group located in Luxembourg, agreed to purchase Panera Bread Co. for around $7.16 billion German marks (close to $4 billion in US dollars). JAB is no stranger to acquiring restaurant companies with premium brands as Krispy Kreme, Einstein Bros. Bagels and Peet's Coffee & Tea are among the company’s many subsidiaries. Following the deal, Panera’s shares skyrocketed 14 percent to $312.94 per share in afternoon trading yesterday in New York. The deal is expected help Panera increase its breakfast business, which currently accounts for only 18 percent of its sales.

For more information on this deal, click here.

 

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