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    JDEP   NL0014332678

JDE PEET'S N.V.

(JDEP)
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Real-time Euronext Amsterdam  -  05/25 11:35:23 am EDT
28.02 EUR   +1.89%
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JDE Peet N : Exclusive-JAB's Panera Bread to join coffee, bagel chains in new unit

08/05/2021 | 06:24am EDT
FILE PHOTO: A Panera restaurant logo is pictured on a building in North Miami, Florida

NEW YORK (Reuters) - JAB Holding Co is carving Panera Bread out into a new unit that will also include Caribou Coffee, Einstein Bros Bagels and other brands to help the chains expand as they emerge from the COVID-19 pandemic, Panera Chief Executive Officer Niren Chaudhary told Reuters.

The new group, to be called Panera Brands, combined will have nearly 4,000 locations in 10 countries.

The new structure, which Panera will announce later on Thursday, is the kind of maneuver companies sometimes make ahead of a deal like an initial public offering or sale.

Chaudhary, who will lead the new group while retaining his position at Panera Bread, declined to comment on an IPO or sale but said that "we are always exploring opportunities."

JAB is a $120 billion, family-owned Luxembourg-based consumer private equity firm that also owns major stakes in Keurig Dr. Pepper and beauty company Coty Inc.

In June, it spun off its Krispy Kreme Inc doughnut business, which went public at a $2.7 billion valuation.

In May 2020 its JDE Peet's coffee chain went public at 2.25 billion euros.

All the Panera Brand companies "have really strengthened their respective brands, teams and business models through the pandemic," Chaudhary said in an interview. "We can collectively leverage the runway of growth."

Each company will remain independent and retain its own chief executive officer, app and loyalty program. But they plan to collaborate on menu and beverage development, data analytics, suppliers and other areas, Chaudhary said.

"We can help propel the brands faster because of this infrastructure we have," he said.

The group plans to open new cafes and so-called ghost kitchens for delivery only, to open locations in new countries and to explore consumer packaged goods.

(Reporting by Hilary Russ; Editing by Sonya Hepinstall)

By Hilary Russ


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
COTY INC. 4.67% 6.27 Delayed Quote.-42.95%
JDE PEET'S N.V. 1.89% 28.02 Real-time Quote.1.48%
KEURIG DR PEPPER INC. 0.14% 35.34 Delayed Quote.-4.26%
KRISPY KREME, INC. 2.48% 14.45 Delayed Quote.-25.48%
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05/16JDE Peet's Allocates $156 Million for Responsible Coffee Sourcing Program
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Financials
Sales 2022 7 737 M 8 262 M 8 262 M
Net income 2022 718 M 767 M 767 M
Net Debt 2022 3 722 M 3 974 M 3 974 M
P/E ratio 2022 19,9x
Yield 2022 2,68%
Capitalization 14 087 M 15 042 M 15 042 M
EV / Sales 2022 2,30x
EV / Sales 2023 2,12x
Nbr of Employees 17 620
Free-Float 22,0%
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Mean consensus HOLD
Number of Analysts 14
Last Close Price 27,50 €
Average target price 31,11 €
Spread / Average Target 13,1%
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Managers and Directors
Fabien Jacques Simon Chief Executive Officer & Executive Director
Scott Gray Group Chief Finance Officer
Olivier Goudet Non-Executive Chairman
Chris Brighton Chief Research, Development & Sourcing Officer
Denis Michel Daniel Hennequin Independent Non-Executive Director
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