Wednesday, April 5, 2017

Panera offer is second highest purchase price ever

On Monday, I posted a link to a story headlined "Rumors swirl of possible Panera Bread sale." Well, today QSR Magazine, which covers the quick-serve restaurant industry, reports "Panera Bread sold for $7.5 billion to Krispy Kreme owner."

The gist of the report is that JAB Holding, which owns Krispy Kreme and several coffee companies including Keurig Green Mountain, has offered hefty per-share prices that are considered premium offers.

If the deal makes it over all the usual regulatory hurdles, which industry analysts expect it to, it would be the second largest purchase price in the history of the restaurant industry. The only one higher is the $12.64 billion Burger King Worldwide paid for the Canadian chain Tim Hortons in 2014.

Panera locations in the area include Latham, North Greenbush, Glenville, Niskyuna, Clifton Park, Colonie, Albany, Glenmont, Amsterdam, Malta, Guilderland (Crossgates Mall), Saratoga Springs and Queensbury.

Go here for the full acquisition story.
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