A European company you've never heard of might buy Panera - and Starbucks should be terrified
Hollis Johnson
Bloomberg reported on Monday that Panera is exploring options after it received a number of take-over interests. The report said potential suitors could include Starbucks and Domino's.
In a note out to clients Tuesday, a group of equity analysts at Credit Suisse led by Jason West said Panera's most likely buyer is an investment group that has been buying up restaurant chains at a clip: JAB Holding Corp.
"We believe JAB would be the most likely acquirer of PNRA given JAB's current portfolio of coffee assets (Krispy Kreme, Keurig, Peet's, etc.)," Credit Suisse said.
JAB, the investment arm of the secretive Reimann family, has been busily scooping up companies in the consumer and food sectors in the past few years. It spent about $1.35 billion to buy Krispy Kreme Doughnuts in 2016. The firm also spent $13.9 billion buying home-brewing coffee company Keurig Green Mountain in late 2015.
As Business Insider's Kate Taylor reported last year, JAB poses a threat to Starbucks, which is working to boost food sales. Here's a breakdown of JAB Holdings' massive portfolio:
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