Panera Bread files to go public again through IPO

A Panera Bread mango yuzu citrus charged lemonade is displayed at a Panera Bread restaurant in Novato, California, on Nov. 1, 2023.

Justin Sullivan | Getty Images

Panera Bread has confidentially filed to go public again, individuals aware of the matter advised CNBC.

The restaurant chain, recognized for its soups, sandwiches and bagels, has been signaling for months that it is trying to go public through an preliminary public providing. In May, Panera introduced a CEO transition and stated the management modifications have been “in preparation for its eventual IPO” — amid a two-year IPO drought that ended within the fall.

Mediterranean restaurant chain Cava, whose chair is Panera founder Ron Shaich, was among the many trickle of corporations that went public this 12 months. Investors had combined reactions to the slate of choices.

Panera is not alone in hoping market situations enhance in 2024. Chinese-founded fast-fashion big Shein confidentially filed to go public Monday, and Bloomberg reported Tuesday that Reddit and Skims is also in subsequent 12 months’s IPO class.

Panera declined to remark to CNBC. The information was first reported by the Financial Times.

The firm was final publicly traded in 2017. JAB Holding, the funding arm of the Reimann household, purchased the corporate for $7.5 billion. It added Panera to a portfolio that, at the moment, included Keurig and Krispy Kreme.

In current years, nevertheless, JAB has been transforming its portfolio. In 2021, it sold Au Bon Pain to a Yum Brands franchisee and took Krispy Kreme public.

JAB additionally tried to take Panera public again that 12 months. But in 2022, Panera known as off its take care of Danny Meyer’s particular objective acquisition firm. The uncommon association would have exchanged shares of USHG Acquisition for the sandwich chain’s inventory and allowed the corporate to survive a merger with Panera’s subsidiary Rye Merger.

However, Panera scrapped these plans, citing market situations.

But the chain’s present try to go public comes because the restaurant has drawn scrutiny for different causes. The firm was lately sued for its “charged lemonade.” The plaintiffs allege the drink induced the loss of life of their college-age daughter, who had a coronary heart situation.

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