Panera will hit $1.2 billion in digital sales this year. Panera Bread Announces Definitive Agreement to Acquire Au Bon Pain The Boston Globe. The 2000s cemented what we call our Contrarian Philosophy. Panera Founder Ron Shaich Panera Hear Shaich talk about his pioneering days of fast-casual food, how he made smart, painful decisions to grow … What follows is … [11], In 1987, Ken and Linda Rosenthal founded The St. Louis Bread Company with the first location in Kirkwood, Missouri. These, along with Panera's artisan breads, are typically baked before dawn by an on-staff baker. Panera Bread Co. founder Ron Shaich said he’s stepping down as chief executive, seven months after agreeing to sell the bakery chain to a European company. [77] The lawsuit was settled in June 2012. You don't have to compromise to eat well. Browse all Panera Bread locations in Auburn to find soup, salad, bakery, pastries, coffee near you. [78], In 2016, a lawsuit was filed after an employee at a Natick, Massachusetts store put peanut butter on a sandwich, despite being informed that the person receiving the sandwich had a peanut allergy. })]) }}, {{ cart.cartSummary.orderFulfillmentDT | formatTime({ Missouri-based Panera Bread Company operates over 309 bakery-cafés in 29 states, with a principal focus on specialty breads, especially its artisan and sourdough breads. toFormat: 'h:mm a' Gift Card Terms & Conditions, {{ 'Hi {0}' | replaceVariables([customerInfo.firstName || '']) }}, {{ '{0} Rewards' | replaceVariables([customerInfo.rewardsCount]) }}, {{ 'Available after {0}' | replaceVariables([$options.filters.formatTime(availableAfter, { [5] Offerings include bakery items, pasta, salads, sandwiches, soups, and specialty drinks. [12], In 1993, Au Bon Pain Co., a public company, purchased the St. Louis Bread Company for $23 million. Saint Louis Bread Company was renamed Panera to position it for national growth. Aside from the bakery section, Panera has a regular menu for dine-in or takeout including: flatbreads, panini, Panera Kids, pastas, salads, sandwiches, side choices, and soups, as well as coffee, espresso drinks, frozen drinks, fruit smoothies, hot chocolate, iced drinks, lattes, lemonade, and tea. [15] At the same time, the St. Louis Bread Company renovated its 20 bakery-cafés in the St. Louis area. [60] The last location in Boston closed on February 15, 2019. Select Date & Time Rapid Pick-Up. At the time of the announcement, the company said it was 21% cage-free in the roughly 70 million eggs it used in 2015. Copyright © 2020 Panera Bread. Shortly thereafter, he and his late partner, Louis Kane, recognized the potential of transforming the company from a bakery selling croissants and bread to a bakery-cafe that used bread and croissants as a platform for selling upscale sandwiches. [6], On November 8, 2017, Panera announced that founder Ron Shaich was stepping down as CEO, and company president Blaine Hurst would take over. Recognizing growing consumer demand for craft offerings and convenience, we’ve worked since 2010 to reposition Panera as a better competitive alternative with expanded runways for growth. Founder Ron Shaich accused of rushing deals to cash out stake Panera Bread Co. investors claimed company directors bungled the $7.5 billion … After acquiring 19-unit Saint Louis Bread Company in 1993, Ron realized in the mid-1990s that a growing niche of people wanted something more than processed fast food. [23], In November 2010, Panera Bread relocated its headquarters to Sunset Hills while vacating its Richmond Heights headquarters and Brentwood, Missouri offices. Panera also made a commitment to remove artificial additives (colors, flavors, sweeteners, and preservatives) on its "No No List" from the food in its US bakery-cafes by the end of 2016. [63] Panera also announced the addition of more plant-based proteins, such as edamame and organic quinoa, to its menu. }) }} In 1987, Ken and Linda Rosenthal founded The St. Louis Bread Company with the first location in Kirkwood, Missouri. [88], Media related to Panera Bread at Wikimedia Commons, American restaurant chain specializing in soups, salads and sandwiches, 2017 class action for failure to pay overtime wages, intentional infliction of emotional distress, negligent infliction of emotional distress, List of restaurant chains in the United States, "Panera Bread Software Purchases and Digital Transformation Initiatives", "Panera Bread Company 2016 Form 10-K Annual Report", "Panera Bread Founder Ron Shaich to Step Down as CEO", "Your Favorite Summer Salad is Back at Panera Bread", "Turkey and Cranberry: A Classic Combination", "5 Things You Didn't Know About the Panera Bread Chain", "Panera's Ron Shaich Really Rolls In The Dough", "AU BON PAIN TO ACQUIRE SAINT LOUIS BREAD COMPANY", "Panera Bread, Au Bon Pain to Reunite for First Time Since 1998", "Panera Bread finalizing headquarters search", "Panera to buy majority interest in Southwest regional chain", "Panera to pay $5.75 million to settle lawsuit", "Panera Bread Settles Class Action Suit Alleging Stock Fraud", "Panera opens new headquarters in Sunset Hills", "Kiosks Keep Their Cool: Even in a smartphone era, touch-screen kiosks give brands a fun, efficient ordering innovation", "More Kiosks, Fewer Cashiers Coming Soon to Panera", "Digital orders now account for 26 percent of Panera sales, company says", "Panera avoided Starbucks' biggest mistake and reached a $1 billion milestone", "Panera Bread Has Acquired a Majority Stake in Tatte Bakery [UPDATED]", "Panera Bread's 2,000th store opening in Elyria (photo)", "More Paradise Bakery restaurants changing over to Panera Bread Co", "Panera Says Its Food Menu Is Now 100% 'Clean Eating, "Panera's Ron Shaich is stepping down as CEO, but first he's repurchasing Au Bon Pain", "Panera Bread Announces Definitive Agreement to Acquire Au Bon Pain", "Panera will buy Au Bon Pain to gain bigger slice of bakery-cafe market", "What's buzzing at Panera? WiFi Terms Of Use Then we grew. TheStreet talks with Shaich about his storied restaurant career. [9][15], In May 1999, Au Bon Pain Co. sold Au Bon Pain to Bruckmann, Rosser, Sherrill & Co. for $78 million, in order to focus on the Panera Bread chain. We invested in the customer experience – things like design and WiFi, which encouraged guests to linger – and turned Panera into a gathering place. Description: From focusing on quality, clean ingredients to serving our food to you in a warm and welcoming environment, Panera Bread is committed to being an ally to our guests. On July 18, 2017, Panera was acquired by JAB Holding Co., ending its 26-year run as a public company on a high note. What’s more, Panera’s stock generated annualized returns of 25% in the same time frame, besting even the performance of Warren Buffet’s Berkshire Hathaway. [19] The company purchased the balance of Paradise in June 2009. As a result, in 1999 all of the Au Bon Pain Co. Inc. divisions were sold, and the remaining company was renamed Panera LLC. Panera Bread's () founder Ron Shaich is under no grand illusion that driving transformation -- either personal or inside a business -- is easy. Also the Frontega Chicken Panini. Wage Class Actions", "Panera Bread Racial Discrimination Lawsuit", "Why Panera should settle lawsuit charging racism", "Fired Panera Bread Manager: They Wanted 'Pretty Young Girls", "Panera Bread's racist, sexist practices warrant boycott", "Former Panera Bread manager's racial retaliation case settled", "Family of allergic child sues Panera for putting peanut butter in grilled cheese sandwich", "Family sues Panera over peanut butter in allergic daughter's sandwich", "Former D.C. Panera employee files class-action overtime suit", "Tabler v. Panera Compaint and Demand for Jury Trial", "St. Louis Firms Make BusinessWeek's Hot Growth List", "America's Top 10 Healthiest Fast Food Restaurants", https://en.wikipedia.org/w/index.php?title=Panera_Bread&oldid=990423399, American subsidiaries of foreign companies, Companies based in St. Louis County, Missouri, Pages containing links to subscription-only content, Wikipedia articles needing factual verification from September 2019, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License, This page was last edited on 24 November 2020, at 11:35. All rights reserved. toFormat: 'MMMM D [at] h:mma' Food served in a warm, welcoming environment, by people who care. [26][27] Customers can also place orders and pay via an app on their smartphone or tablet. The Rosenthals invested $150,000 and received a $150,000 Small Business Administration loan. [21][22], In October 2008, Panera Bread expanded into Canada, opening locations in Richmond Hill, Thornhill, Oakville, and Mississauga in the Greater Toronto Area. [75][76] Covelli Enterprises is the single largest franchisee of Panera Bread with nearly 300 stores in northeast Ohio, western Pennsylvania, West Virginia, and Florida. About 68 percent of its bakery-cafés are franchise units, and the remainder are owned by the company. Panera Bread Founder Ron Shaich to Step Down as CEO Fortune. In April 2017, JAB reached an agreement to buy U.S.-based Panera Bread, a fast casual bakery-café chain, for $7.5 billion. [39][6][40][41], In January 2018, the company formed a consulting business to help restaurants remove artificial ingredients from their menus. The themes we bet on – digital, clean food, loyalty and multiple channels of access to our products – are now redefining the restaurant industry and we are leading in each of these areas. In 1993, Au Bon Pain Co., Inc. purchased Saint Louis Bread Company, a chain of 20 bakery-cafes located in the St. Louis area. And we're always finding new ways to make every soup, salad, sandwich and sweet bakery treat you eat at Panera the best (and cleanest) it can be. By the end of the decade, there were nearly 1,500 Panera bakery-cafes. Checkout Order Details Rapid Pick-Up. Ron Shaich, Act III Holdings Managing Partner and Panera Bread Founder, joins Yahoo Finance to discuss the COVID-19 impact on the overall restaurant industry and more. 1 for Best Healthy Option,[88] Best Salad,[87] and Best Facilities, among restaurants with fewer than 5,000 locations in 2009. [16][17], In 2000, Panera Bread moved its headquarters to Richmond Heights, Missouri. [48][49][50] According to the company, this created 13,000 jobs. Panera Bread bakery-cafes donate $100 million worth of unsold bread and baked goods annually to local organizations in need. [61][62], On November 5, 2015, Panera announced that it will use free-range eggs in all of its stores by 2020. Select Cafe Time. Panera Founder Has Quietly Launched a Fast-Casual Empire from Boston In 2017, Ron Shaich sold Panera Bread for $7.5 billion. Dine-in, pickup, and delivery. Also in April, JAB was reported to be stepping back from investment in luxury goods, with reported plans to sell its stakes in the designer shoe … In late 2017, Panera acquired Au Bon Pain Holding Co. Inc., parent company of the 304-unit Au Bon Pain bakery-café chain. [84][85], In a 2008 Health magazine study, Panera Bread was judged North America's healthiest fast casual restaurant and one of North America's enemies of obese children. [83], In 2005, Panera ranked 37th on Bloomberg BusinessWeek's list of "Hot Growth Companies", earning $38.6 million with a 42.9 percent increase in profits. [44][45][46] Panera said the leak affected fewer than 10,000 customers and had been fixed. Shaich remained chairman. [54] CEO Ron Shaich based the idea on an NBC profile of the SAME Cafe in Denver, Colorado. toFormatTomorrow: '[Tomorrow at] h:mma', 1987. Panera Bread Co. founder Ron Shaich said he’s stepping down as chief executive, seven months after agreeing to sell the bakery chain to a European company. [66] Panera also supports events held by nonprofit organizations serving those in need by donating a certificate or fresh bakery products. The pair soon discovered that croissants laden with upscale ingredients like Boursin cheese and fresh roast beef were crowd pleasers and the bakery became a bakery-cafe. Panera Bread Is Buying Au Bon Pain Back GlobeNewswire. Your Privacy Panera Bread CEO and founder Ron Shaich says the decision to sell the bakery cafe to German conglomerate JAB for $7.5 billion is “bittersweet.” “I wasn’t really looking for this in any way,” … [56][57] Several of their sites served 3,500 customers weekly. Purchase eGift Cards; More Gift Card Links. [55] It later expanded the concept to Dearborn, Michigan; Portland, Oregon; Chicago; and Boston. Our MyPanera loyalty program is the largest in the industry, with 28 million members. Panera Bread's () founder Ron Shaich is under no grand illusion that driving transformation -- either personal or inside a business -- is easy. [64] In December 2016, it published its third animal welfare progress report, announcing new efforts to improve broiler chicken welfare. Often we share a sandwich, favorites are the old fashioned grilled chese a full is 2. Panera Bread Company founder, CEO and chairman Ron Shaich has shared a letter written to his employees on Twitter criticizing US President Donald Trump for his failure to condemn white supremacist groups. [10] Many locations restrict the duration of free Wi-Fi to 30 or 60 minutes during peak hours. TheStreet talked with Panera Bread founder and CEO Ron Shaich to discuss the deal. [35], In September 2015, many Paradise Bakery & Café locations were rebranded as Panera Bread. [72] Panera said it "does not discriminate based on national origin, race or sex," and that the plaintiff "was terminated because he had used all of his medical leave and was unable to return to work. Panera was notified privately about the vulnerability in August 2017 but failed to fix it until after it was disclosed publicly eight months later. Copyright © 2020 Panera Bread. In 1998, Ron determined that Panera had the potential to be nationally dominant, but it would require all of our resources. [9], In February 2008, a class action lawsuit was filed against the company alleging it failed to disclose material adverse facts about the company's financial well-being, business relationships, and prospects. Panera was the best-performing restaurant stock of the last 20 years, delivering a total shareholder return up 86-fold from July 18, 1997, to July 18, 2017, compared to a less than twofold increase for the S&P 500 during the same period. [25], In May 2014, Panera unveiled "Panera 2.0", a series of integrated technologies including new capabilities for digital ordering, payment, operations, and ultimately, consumption. We are the first and only restaurant company to commit to and achieve 100% clean food. However, Panera Bread does not franchise individual bakery-cafés; rather, it sells multi-store area development agreements. Panera’s journey so far has been punctuated by five major transformations – each of which positioned us for ever greater success. [82] In October 2019, Judge Lucy Koh granted a motion to dismiss the lawsuit. November 8, 2017. [7][8], During its final 20 years as a public company, from 1997 to 2017, it was the best performing restaurant stock, delivering an 86-fold return to shareholders. He saw they were hungry for an experience they respected: real food, served in an engaging environment by people with self-respect. toFormatToday: '[Today at] h:mma', And we are leading in omni-channel through our delivery, catering, Rapid PickUp and Panera at Home options. Au Bon Pain Co. Inc. became a publicly traded company in 1991 and opened hundreds of bakery-cafes, becoming a familiar fixture in cities along the East Coast and overseas. The Interview: Panera Bread Founder and Tatte Investor Ron Shaich Posted Nov 12, 2019 The fast-casual restaurant titan opens up about the challenges of building—and selling—a $7.5 billion company, his goal of putting a Tatte Bakery on nearly every … toFormatTomorrow: '[Tomorrow at] h:mma', [13][14][15], In 1997, Au Bon Pain changed the company name to Panera, from the Spanish language word panera, meaning "granary" or "breadbasket". [87], Panera was also rated No. I spoke to Ron Shaich, the founder, chairman and CEO of Panera Bread, about what he will be speaking about at the Eleventh Annual Conscious Capitalism CEO Summit, which will be … Act III is a $300 million investment vehicle recently established by Ron Shaich, the founder and former CEO of popular sandwich franchise and one-time star consumer goods stock Panera Bread. The acquisition reunites Panera and Au Bon Pain, both of which were founded by Ron Shaich, and will intensify Panera’s growth in new real estate channels, including hospitals, universities and transportation centers. Panera paid $5 million to settle all claims and denied any wrongdoing. [32], In the fourth quarter of 2015, Panera acquired a majority stake in Tatte Bakery & Cafe, a bakery-cafe concept chain with 16 locations in the Boston area and two in Washington D.C.[33][34], On March 23, 2016, Panera opened its 2,000th location, a cafe in Elyria, Ohio. Ken had fallen in love with sourdough bread during a trip to San Francisco and, in 1987, opened his first bread … Panera Bread founder and former CEO Ronald Shaich won a Chancery Court ruling Wednesday upholding his right as a stockholder to some company stock … [68] With their menus continuing to grow, Panera offers counselling to other food services to have a more holistic approach when it comes to purging their menus of artificial ingredients and preservatives. April 16, 2017. The Interview: Panera Bread Founder and Tatte Investor Ron Shaich Posted Nov 12, 2019 The fast-casual restaurant titan opens up about the challenges of building—and selling—a $7.5 billion company, his goal of putting a Tatte Bakery on nearly … The plaintiffs charged the company and those employees involved with intentional infliction of emotional distress and negligent infliction of emotional distress as well as assault and battery. [67], As of 2016, Panera advertises that their menu is 100% clean of GMOs and artificial preservatives. [37][6], On July 18, 2017, JAB Holding Company acquired the company for $7.16 billion. The original location near St. Louis closed in January 2018. "[52], On October 28, 2020, Panera announced they would add pizza to their menu to increase dinner options for customers. [42][43], On April 2, 2018, Brian Krebs reported that the Panera Bread website had leaked between 7 million and 37 million customer records — including names, email and physical addresses, customer loyalty account numbers, birthdays, and the last four digits of the customers' credit card numbers — for at least eight months before the site was taken offline. California Supply Chain Act At Panera Bread Auburn - Outlet Collection Way SW, that's good eating and that's why we're serving clean food without artificial preservatives, sweeteners, flavors or colors from artificial sources. The next year, the shop’s founder, Ron Shaich… toFormatToday: '[Today at] h:mma', [9], Panera was once the largest provider of free Wi-Fi hotspots in the United States. }) }}. All rights reserved. That means crafting a menu of soups, salads and sandwiches that we are proud to feed our families. It’s been our ability to transform our business whenever necessary and pivot as appropriate. fromFormat: 'HH:mm', Panera Bread Company is an American chain store of bakery-café fast casual restaurants with over 2,000 locations, all of which are in the United States and Canada. [65], The Day-End Dough-Nation program provides unsold bread and baked goods to local area hunger relief agencies and charities. Need a gift now? [51], In late July 2020, Tzurit Or made the decision to step down as CEO of Tatte Bakery & Café after a petition was started due to racial insensitivity and racial bias by Or. [31] This policy outlines the company's values and sets a course for continuous improvement. So what’s the secret to Panera’s success? Shaich disrupted an existing industry and build companies of values. [53], In 2010, the company's nonprofit foundation created Panera Cares, a "Pay what you can" restaurant in its home market of St. "[72] The plaintiff worked in a store owned by franchisee Sam Covelli,[74] who also owns the stores that were involved in the 2003 racial discrimination lawsuit. [70][71], In 2011, a former employee filed a racial discrimination lawsuit alleging that he was eventually fired after repeatedly having a black man work the cash register instead of putting him in a less visible location and having "pretty young girls" be the cashiers, as requested by supervisors. It started out as a cookie store in downtown Boston. This year acquisition of Au Bon Pain Back GlobeNewswire announced the addition of more plant-based proteins such. 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