In a move that its parent company feels may “turbo charge growth,” fast-casual restaurant chains Panera Bread, Caribou Coffee and Einstein Bros. Bagels have come together to form Panera Brands. All three companies are under the ownership of JAB Holding Co. and together they have nearly 4,000 units systemwide.
Niren Chaudhary will serve as group CEO of Panera Brands and will continue in his previous role as CEO of Panera Bread. José Alberto Dueñas, CEO of Einstein Bros. Bagels, and John Butcher, CEO of Caribou Coffee, will report into Chaudhary while continuing as CEOs of their respective companies.
“Together as Panera Brands, we are united by our common values and shared belief that we can be force multipliers for good. 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.” says Chaudhary. “We believe Panera Bread, Caribou Coffee and Einstein Bros. Bagels together will leverage each company’s unique expertise and services to build an unrivaled fast casual platform with a tremendous runway for growth.”
JAB acquired Panera in 2017, Einstein Bagels in 2014 and Caribou Coffee in 2012.