KRISPY KREME OWNER BUYS PANERA BREAD FOR $7.5 BILLION

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( CNN Money ) Talk about carb loading. Sandwich chain Panera has agreed to sell itself to JAB, a German conglomerate that owns Krispy Kreme and the Einstein and Noah bagel chains, for $7.5 billion.

Shares of Panera (PNRA) surged nearly 15% in early trading Wednesday. The stock soared on Monday as rumors surfaced that Panera was in merger talks.

JAB was named as a possible suitor, as were McDonald’s (MCD), Starbucks (SBUX), KFC parent company Yum! (YUM) and Domino’s (DPZ).

…In addition to Krispy Kreme and the Einstein Noah bagel chains, JAB also owns K-cup coffee king Keurig Green Mountain, the Gevalia brand of coffee as well as coffee chains Caribou, Peet’s and Stumptown.

JAB also owns a big stake in a fair number of non-food brands, such as shoe and handbag company Jimmy Choo, beauty products maker Coty and Reckitt Benckiser, the company behind Lysol. Woolite and the Durex brand of condoms.

 

READ MORE: Krispy Kreme owner buys Panera

 

 

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