LUXEMBOURG — JAB BV, an investment arm of the JAB Holding Co., has completed its acquisition of St. Louis-based Panera Bread Co. for approximately $7.5 billion. Panera’s shareholders approved the deal on July 11.
Under the agreement, JAB acquired Panera for $315 per share in cash and the assumption of $340 million in debt. As a result of the completion of the acquisition, Panera’s common stock has ceased trading on the Nasdaq Global Select Market.
The acquisition, which was announced on April 5, adds to JAB’s growing global roster of bakery-cafe chains that also includes Caribou Coffee, Einstein Noah, Espresso House, Krispy Kreme Doughnuts and Peet’s Coffee and Tea.