Panera Bread to buy 13 franchise stores for $15.3M

ST LOUIS — Panera Bread will spend $15.3 million to buy 13 franchised bakery-cafés and the area development rights for certain markets in Iowa, Nebraska and South Dakota from its franchisee, Panebraska LLC.

 

According to a news release, the company expects to pay about $15.3 million in cash and assume certain liabilities, including those associated with bakery-café construction. 

 

The deal is set to close on or about Oct. 24, subject to customary closing conditions.