JAB Holding Co. is bringing its breakfast and coffee-oriented restaurant brands under one platform with the formation of Panera Brands, a group that will include the fast-casual Panera Bread, Caribou Coffee and Einstein Bros. Bagels, the company announced Thursday.
Niren Chaudhary has been named Group CEO of Panera Brands and will continue as CEO of Panera Bread. The company said Panera Bread with its digital infrastructure, loyalty program and access to well-capitalized franchisees is in a "unique position to turbocharge the growth" of Einstein Bros. Bagels and Caribou Coffee.
"Together as Panera Brands, we are united by our common values and shared belief that we can be force multipliers for good," Chaudhary said in a statement about the new corporate structure. "We exist to provide exceptional experiences for our guests, and to positively impact our communities, the planet and our shareholders while unlocking the dreams of our teams."
The new company will include nearly 4,000 restaurants and 110,000 employees across 10 countries.
Last year, JAB combined its Dutch beverage group Jacobs Douwe Egberts and Peet's Coffee into one coffee portfolio that went public with an initial public offering. JAB this year spun off its Krispy Kreme brand with a stock offering.
When asked by Nations Restaurant News if an IPO is in the plans, a company spokesperson said, Panera is "always evaluating opportunities."