Panera Bread Company is an American chain store of bakery-café fast casual restaurants with more than 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 organization 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, that also owns Au Bon Pain, is belonging to JAB Holding Company, which is subsequently owned by the Reimann group of Germany. Panera offers a variety of pastries and baked goods, such as bagels, brownies, cookies, croissants, muffins, and scones. These, along with Panera’s artisan breads, are generally baked before dawn by an on-staff baker. Apart from the bakery section, Panera Bread catering menu includes a regular menu for dine-in or takeout including: flatbreads, panini, Panera Kids, pastas, salads, sandwiches, side choices, and soups, in addition to coffee, espresso drinks, frozen drinks, fruit smoothies, hot chocolate, iced drinks, lattes, lemonade, and tea.
During its final twenty years as a public company, from 1997 to 2017, it was the best performing restaurant stock, delivering an 86-fold come back to shareholders. Panera was once the largest provider of free Wi-Fi hotspots in the United States. Many locations restrict the time period of free Wi-Fi to 30 or 1 hour during peak hours. In 1987, Ken and Linda Rosenthal founded The St. Louis Bread Company using the first location in Kirkwood, Missouri. The Rosenthals invested $150,000 and received a $150,000 Business 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, from 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 bought a 51% stake in Paradise Bakery & Café, a Phoenix metropolitan area-based concept with over 70 locations in 10 states, predominantly inside 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 up against the company alleging it neglected to disclose material adverse facts about the company’s financial well-being, business relationships, and prospects. In February 2011, Panera consented 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 in 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 business leased additional space for the headquarters in 2013.
In May 2014, Panera unveiled “Panera 2.”, several integrated technologies including new capabilities for digital ordering, payment, operations, and ultimately, consumption. It contains tablet kiosks with iPads, in which the company calls Fast Lane, where customers may make an order and pay without approaching the counter. Customers can also place orders and pay with an app on their own 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 as well as a positive impact on the food system..This insurance policy outlines the company’s values and sets a cbnjac for continuous improvement. Panera also created a dedication to remove artificial additives (colors, flavors, sweeteners, and preservatives) on its “No No List” from your food in the US bakery-cafes at 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 organization 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 over. Shaich remained chairman. The business also announced the acquisition of Au Bon Pain. In January 2018, the organization formed a consulting business to aid restaurants remove artificial ingredients from their menus.
On April 2, 2018, Brian Krebs reported that this Panera Bread restaurant had leaked between 7 million and 37 million customer records – including names, email and physical addresses, customer loyalty account numbers, birthdays, as well as the last four digits from the customers’ credit card numbers – for at least eight months ahead of the site was taken offline. Panera was notified privately concerning the vulnerability in August 2017 but did not correct it until after it was disclosed publicly eight months later. Panera said the leak affected less than 10,000 customers and had been fixed. In May 2018, the organization introduced delivery services to 897 cities in 43 states, employing their own drivers. Based on the company, this created 13,000 jobs