Panera Bread files for an initial public offering (IPO)

Panera Bread is in focus this morning following a report that it wants to go public again via an initial public offering.

Panera expects IPO market to pick up

Anonymous sources told the Financial Times on Friday that Panera Bread – a Missouri-based chain of bakery-café restaurants has confidentially filed for an IPO.

Note that Ron Shaich – the Founder of Panera Bread chairs the board at Cava Group Inc that went public earlier in 2023.

Watch here: https://www.youtube.com/embed/eMz9lENERog?feature=oembed

Many expect the IPO market to pick up in 2024. Shein – a fast-fashion giant that was founded in China was recently reported to have confidentially filed for an initial public offering as well. Reddit and Skims could also execute similar plans next year, as per Bloomberg.

Panera Bread has so far refrained from commenting on the FT report.

Panera recently brought in a new CEO

Panera has been interested in going public again for months. In May, the fast-food chain named Jose Alberto Duenas its new Chief Executive “in preparation for its eventual IPO”.

Panera Bread was a listed company up until 2017 when Reimann family acquired it via its investment arm – JAB Holding for about $7.5 billion.

The St. Louis-headquartered firm also considered an IPO in 2022 but then discarded those plans due to poor market conditions.

Investors’ sentiment is shifting.

The tech IPO market witnessed a significant downturn in 2022, with IPO deals plummeting by 94%.

Now, the market seems to be in a place of flux. But with those challenges come opportunities.

There was a 5% decrease in global IPO volumes and a… pic.twitter.com/XpiqdG6bxL

— Thomas Smale (@ThomasSmale) December 1, 2023

What FT reported today arrives at a time when Panera Bread is facing a lawsuit which alleges that consuming its charged lemonade took the life of an Ivy League student who had a heart condition.

The post Panera Bread files for an initial public offering (IPO) appeared first on Invezz