ST. LOUIS, MO, July 18, 2017 (GLOBE NEWSWIRE) — Panera Bread Company (“Panera” or the “Company”) (NASDAQ:PNRA) and JAB today announced the successful completion of the acquisition of Panera by an investment vehicle of JAB Consumer Fund and JAB Holding Company. The acquisition was announced on April 5, 2017, and the transaction closed and became effective today.
Under the terms of the transaction, Company shareholders will receive $315 per share in cash for each share they own. As a result of the completion of the acquisition, Panera’s common stock will cease trading as of today on the NASDAQ Global Select Market.
Thirty years ago, at a time when quick service meant low quality, Panera set out to challenge this expectation. We believed that food that was good and that you could feel good about, served in a warm and welcoming environment by people who cared, could bring out the best in all of us. To us, that is food as it should be and that is why we exist.
So we began with a simple commitment: to bake fresh bread every day in our bakery-cafes. No short cuts, …