Panera Bread Company is a united states chain store of bakery-café fast casual restaurants with well over 2,000 locations, all of which are in the usa and Canada. Its headquarters are in Sunset Hills, Missouri, a suburb of St. Louis. The business operates as Saint Louis Bread Company in Greater St. Louis, where it has over 100 locations. Offerings include bakery items, pasta, salads, sandwiches, soups, and specialty drinks.
The business, which owns Au Bon Pain, is belonging to JAB Holding Company, that is in turn belonging to the Reimann family of Germany. Panera offers a wide array of pastries and baked goods, like bagels, brownies, cookies, croissants, muffins, and scones. These, in addition to Panera’s artisan breads, are typically baked before dawn by an on-staff baker. Besides the bakery section, Panera Bread menu includes 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.
During its final 20 years being a public company, from 1997 to 2017, it had been the best performing restaurant stock, delivering an 86-fold return to shareholders. Panera used to be the greatest provider of free Wi-Fi hotspots in america. Many locations restrict the duration of free Wi-Fi to 30 or 60 minutes during peak hours. In 1987, Ken and Linda Rosenthal founded The St. Louis Bread Company with the first location in Kirkwood, Missouri. The Rosenthals invested $150,000 and received a $150,000 Small Enterprise Administration loan.
In 1993, Au Bon Pain Co., a public company, purchased the St. Louis Bread Company for $23 million. In 1997, Au Bon Pain changed the organization name to Panera, through the Spanish language word panera, meaning “granary” or “breadbasket”. Simultaneously, the St. Louis Bread Company renovated its 20 bakery-cafés within the St. Louis area.
In May 1999, Au Bon Pain Co. sold Au Bon Pain to Bruckmann, Rosser, Sherrill & Co. for $78 million, to be able to focus on the Panera Bread chain. In 2000, Panera Bread moved its headquarters to Richmond Heights, Missouri. In 2007, Panera Bread purchased a 51% stake in Paradise Bakery & Café, a Phoenix metropolitan area-based concept with over 70 locations in 10 states, predominantly in the west and southwest, for $21.1 million. The business purchased the balance of Paradise in June 2009.
In February 2008, a class action lawsuit was filed against the company alleging it did not disclose material adverse details about the company’s financial well-being, business relationships, and prospects. In February 2011, Panera agreed to pay $5.75 million to shareholders while admitting no wrongdoing, settling the lawsuit. In October 2008, Panera Bread expanded into Canada, opening locations in Richmond Hill, Thornhill, Oakville, and Mississauga inside the Greater Toronto Area.
In November 2010, Panera Bread relocated its headquarters to Sunset Hills while vacating its Richmond Heights headquarters and Brentwood, Missouri offices The organization leased additional space for the headquarters in 2013.
In May 2014, Panera unveiled “Panera 2.”, a series of integrated technologies including new capabilities for digital ordering, payment, operations, and ultimately, consumption. It includes tablet kiosks with iPads, which the company calls Fast Lane, where customers may make an order and pay without approaching the counter. Customers may also place orders and pay by using an app on the smartphone or tablet. In 2017, digital orders accounted for over $1 billion in orders, or 26% of sales.
In June 2014, Panera unveiled its official Food Policy which detailed commitments to clean ingredients, transparency and a positive impact on the food system..This insurance policy outlines the company’s values and sets a cbnjac for continuous improvement. Panera also produced a dedication 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.
On March 23, 2016, Panera opened its 2,000th location, a cafe in Elyria, Ohio. In September 2015, many Paradise Bakery & Café locations were rebranded as Panera Bread. In January 2017, Panera announced its food menu was without any artificial colors, flavors, sweeteners, and preservatives. On July 18, 2017, JAB Holding Company acquired the business for $7.16 billion.
On November 8, 2017, Panera announced that founder Ron Shaich was stepping down as CEO, and company president Blaine Hurst would take control. Shaich remained chairman. The organization also announced the acquisition of Au Bon Pain. In January 2018, the business formed a consulting business to aid restaurants remove artificial ingredients using their menus.
On April 2, 2018, Brian Krebs reported that the Panera Bread prices 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 from the customers’ bank card numbers – for at least eight months prior to the site was taken offline. Panera was notified privately regarding the vulnerability in August 2017 but failed to correct it until after it absolutely was disclosed publicly eight months later. Panera said the leak affected fewer than 10,000 customers along with been fixed. In May 2018, the organization introduced delivery services to 897 cities in 43 states, employing their own drivers. In accordance with the company, this created 13,000 jobs