Panera to Buy Au Bon Pain, Extending Takeover Spree for JAB
Bloomberg (Nov. 8, Giammona) reports that JAB Holding Co.'s Panera Bread business has agreed to acquire the Au Bon Pain bakery chain, adding approximately 200 U.S. cafes and another 100 abroad to an expanding portfolio that includes coffee, bagels, and doughnuts. Terms of the deal were not disclosed. The acquisition comes a few months after JAB purchased Panera in a $7.2 billion takeover -- a deal that brought more than 2,000 cafes that are popular with lunchtime crowds. Au Bon Pain will bring locations in places like college campuses, hospitals, and train stations. "The move disappointed investors in Dunkin' Brands Group Inc., which has been cited as a potential takeover target for JAB," notes Bloomberg. The investment firm has previously acquired Caribou Coffee, Krispy Kreme, the Einstein Noah Restaurant Group, and others in a buying frenzy that has jolted the food industry.
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