Your favorite sandwich chain is having a pretty big week. Panera just announced that they've reached the terms of a merger with German food company JAB, which also owns Krispy Kreme Einstein Bagels, and Manhattan Bagels. Yep, they're the king of carbs.
The two companies announced the sale for a cool $7.5 billion, but the deal won't close until later in the year. That means it'll be a while before customers notice any changes — but is a change going to come at all?
Panera has been doing pretty great lately. They now have 2,300 locations in the U.S. and Canada, and their sales are up 5.3% so far in 2017. In fact, the company's statement about the sale notes that Panera had the best performing restaurant stock of the last 20 years. Unlike their lunchtime competitors ... cough, Chipotle, cough.
Thus their offerings might not change too much, CNN suggested in its analysis of the sale. "We strongly support Panera's vision for the future, strategic initiatives, culture of innovation, and balanced company versus franchise store mix," said JAB chief exec Olivier Goudet.
If anything, the extra support (and funds) from JAB should allow Panera to keep innovating with healthier ingredients; just this year, the company announced that their breads are 100% "clean," or free from all artificial flavors, preservatives, sweeteners, and colors. They were the first American restaurant company to pull that off, and the process of reviewing and changing all of their vendors along the supply chain doesn't come cheap.
You might see new ordering screens or mobile apps. "With investments in technology and operations, we now offer new ways to enjoy your Panera favorites – like mobile ordering and Rapid PickUp for to-go orders – all designed to make things easier for our guests," the statement said. We reported on their new delivery service in January.
Innovation is fine, just as long as you keep your hands off our beloved Asiago cheese bagel, okay?
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