New Panera Brands company to leverage individual chain strengths
Panera Bread has merged with Caribou Coffee and Einstein Bros Bagels to form the Panera Brands company. The combined restaurant chains will serve customers across 4,000 locations, leveraging the teamwork of 110,000 employees. All three chains are owned by JAB Holdings and its subsidiaries.
Niren Chaudhary will lead the new company as Group CEO of Panera Brands, retaining his role as chief executive of 2,120-unit Panera Bread. Reporting to Chaudhary, José Alberto Dueñas, CEO of Einstein Bros. Bagels, and John Butcher, CEO of Caribou Coffee will continue overseeing their brands.
“Together as Panera Brands, we are united by our common values and shared belief that we can be force multipliers for good. We exist to provide exceptional experiences for our guests, and to positively impact our communities, the planet and our shareholders while unlocking the dreams of our teams.” said Chaudhary. “We believe Panera Bread, Caribou Coffee and Einstein Bros. Bagels together will leverage each company’s unique expertise and services to build an unrivaled fast-casual platform with a tremendous runway for growth.”
JAB Beech, a JAB Holding subsidiary, agreed to buy Caribou Coffee in 2012. JAB also purchased Einstein Bros in 2014. Panera Bread came into the fold through acquisition in 2017.
Caribou Coffee’s portfolio includes 739 stores, while Einstein Bros Bagels operates 1,005 stores.
“At Einstein Bros. Bagels, our relentless focus on delivering the most craveable breakfast
experience for our guests and our efforts to transform the business during 2020 allowed us to
come out of the pandemic as a stronger, more profitable, and more nimble company,” said Dueñas.
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