While JAB Holding Company isn’t your typical household name, you may still recognize some of the brands they own. The privately held business group posses subsidiaries like Peet’s Coffee & Tea, Stumptown Coffee, Einstein Bros. Bagels, and Keurig Green Mountain.
Last year, JAB purchased Krispy Kreme Doughnuts for $1.35 billion.
It seems that JAB is looking to once again expand their coffee-slinging empire, this time with Panera Bread.
NPR reports that the company agreed to a $7.5 billion agreement to purchase the fast casual bakery chain. Set to finalize within the third financial quarter of 2017, the merger would turn Panera Bread into a privately held company. Since their announcement, Panera’s stock prices have spiked going over $300 in pre-market trading.
More than 30 years old, the business has focused on soups, sandwiches, pasta, salads, and baked goods primary. We’re wondering if the new merger will highlight caffeinated drinks more now that JAB is an owner.
Hopefully Panera Bread’s French Onion soup will remain unaffected. That stuff’s LIT.