Thread: Krispy Kreme owner (German) buys Panera Bread chain (U.S.) for $7.5 billion

Krispy Kreme owner buys Panera Bread chain for $7.5 billion

POSTED 5:42 AM, APRIL 5, 2017, BY CNN WIRE, UPDATED AT 05:44AM, APRIL 5, 2017

NEW YORK — Panera Bread, one of the leaders in the so-called fast casual dining industry, agreed to be bought by Krispy Kreme Doughnuts and Peet’s Coffee and Tea owner JAB for $7.5 billion, it was announced Wednesday.

Panera investors will receive $315 per share in cash and JAB will assume #340 million in debt, the companies said in a statement. Panera shares rose as much as 13 percent to $310 in premarket trading.

Besides Krispy Kreme Doughnuts and Peet’s, JAB also owns Stumptown Coffee Roasters and Keurig Green Mountain.

Panera has more than 2,000 locations and does about $5 billion in annual sales.

“We strongly support Panera’s vision for the future, strategic initiatives, culture of innovation, and balanced company versus franchise store mix,” JAB partner and CEO Olivier Goudet said in a statement. “We are excited to invest in and work together with the company’s management team and franchisees to continue to lead the industry.”

The sale of Panera is just the latest restaurant deal. Takeovers are clearly on corporate America’s menu.

Burger King owner Restaurant Brands agreed to acquire chicken chain Popeyes Louisiana Kitchen for $1.8 billion in February.

And there have been rumors this year that another chicken joint — El Pollo Loco — could be a takeover target as well.

Bob Evans Farms announced in January that it was selling its restaurant business to private equity firm Golden Gate Capital for $565 million. Golden Gate acquired Red Lobster from Olive Garden owner Darden Restaurants in 2014.

And Darden just announced a deal of its own, agreeing last week to buy casual dining chain Cheddar’s Scratch Kitchen for $780 million.

Popular sandwich chain Jimmy John’s sold a majority stake in September to investment company Roark Capital as well
Roark also has a big investments in Focus Brands — the parent company of Cinnabon, Moe’s Southwest Grill and Carvel.

And its an owner of Arby’s and CKE, the owner of Carl’s Jr. and Hardee’s, which up until recently was run by former Trump Labor Secretary candidate Andrew Puzder.

http://kdvr.com/2017/04/05/krispy-kr...r-7-5-billion/

How many of these corporate buy outs are by foreign corporations?

Of course, I realize most corporations are multi-national.

It just really makes me sick to realize we are subsidizing, living with - in fear sometimes, all the illegals these people are going to employ and it's a foreign country getting the profits.

We don't eat out much. It's part of my anti-illegal program.