Panera Agrees to Be Bought by Jab Holdings for More Than $7 Billion
Panera Bread (PNRA) will be the latest food brand gobbled up by European conglomerate JAB Holdings.
The salad and sandwich chain said on Wednesday it will be acquired by JAB Holdings for $315 per share in cash in a transaction valued at about $7.5 billion. The purchase prices represents a 30% premium to Panera's 30-day average stock price as of March 31, the last trading day before speculation arose about a potential transaction.
"Our success for shareholders is the byproduct of our commitment to long-term decision making and operating in the interest of all stakeholders, including guests, associates, and franchisees," Panera Bread founder Ron Shaich said in a statement.
READ MORE: Panera Bread Will Be Acquired for $7.5 Billion by a European Giant You Probably Have Never Heard Of
