Food & Beverage

Panera Bread, Caribou Coffee, Einstein Bagels form fast casual powerhouse

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August 6, 2021

Panera Bread, Caribou Coffee and Einstein Bros. Bagels have teamed up to create Panera Brand, boasting nearly 4,000 locations and 110,000 employees across 10 countries, according to a press release.

All three brands are owned by Luxembourg based JAB Holding Co.

Niren Chaudhary, CEO of Panera Bread, has been appointed as the group CEO of Panera Brands and will continue to lead as CEO of Panera Bread.

José Alberto Dueñas, CEO of Einstein Bros. Bagels, and John Butcher, CEO of Caribou Coffee, will report into Chaudhary while continuing as CEOs of their respective companies.

"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," Chaudhary said in the release.

Panera Bread, with more than 2,100 bakery-cafes, pivoted during the pandemic to more off-premise and digital access and has rapidly innovated with offerings such as its disruptive coffee subscription program and the Flatbread Pizza launch. As a result, the brand has recovered to above 2019 levels and delivered positive one- and two-year comparable restaurant sales throughout May, June and July.

Caribou Coffee, with 713 stores in 10 countries, also has a sizeable presence outside the U.S.

Einstein Bros. Bagels operates 1,005 stores consisting of Einstein Bros. Bagels, Bruegger's Bagels, Noah's New York Bagels and Manhattan Bagel.

JAB Holding Co. food and beverage brands also include Keurig Dr Pepper, JDE Peets, Espresso House, Krispy Kreme, Bagel Brands and Pret A Manger.