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Private Equity has destroyed yet another good company! This one founded in St. Louis, Missouri. Today, Panera announced moving their headquarters from St. Louis, Missouri, founded, to Boston. Panera was founded in 1987. It was founded as Saint Louis Bread Company. If you live in the Saint Louis region, they are still marketed that way. However, in 2017, everything changed! Panera was sold to JAB Holdings, a private equity company, for $7.5 billion. Popular Sandwich Chain Undergoes Massive Overhaul, Closing Bakeries. Panera Bread announced its plan to close the last of its fresh dough facilities. By Ava Levenson, News Writer. Nov 4, 2023. And as you expect with private equity, portion sizes and quality went down, prices went up, and a lot of people lost their jobs. They started closing freestanding bakeries across the United States, opting to send frozen dough to the cafes instead. Ronald M. Shaich. American entrepreneur and former CEO of Panera Bread. Net worth: $1.2 billion (USD 2023). Age: 72 years. Born September 14, 1951. Shame on the founder of Panera for selling out, but I'm sure he doesn't care much. A billion dollars thanks to the sale. If you're interested else JAB Holdings owns, you'd be surprised! Restaurants & Food: Panera Bread, Einstein Bros. Bagels, Bruegger's Bagels, Noah's New York Bagels, Manhattan Bagel, Caribou Coffee, Pret A Manger, Krispy Kreme (major controlling stake). Panera, Caribou Coffee, Einstein's, and they also own Krispy Kreme. Coffee & Beverage: Heart to Coffee, Peet's Coffee Roasters, Humpreys Coffee, Keurig Dr Pepper (minority ownership stake), Canada Dry, Squirt, Canada Dry, Vermont Sweetwater, RC Cola, Core Nutrition, The Original Donut Shop Coffee, Green Mountain Coffee, Mistic, Nantucket, Clamato, Evian (U.S. distribution partnership). Pete's Coffee, and they have a major stake in Keurig Dr. Pepper. Pet Care: National Veterinary Associates (NVA), Compassion-First Pet Hospitals, Independence Pet Holdings, PetPartners, Fetch Pet Insurance, ASPCA Pet Health Insurance (administers plans), Figo Pet Insurance. The National Veterinary Associates, which includes Fido, and the ASPCA's plan. Beauty: Coty, CoverGirl, Rimmel London, Sally Hansen, OPI, Kylie Cosmetics, Burberry Beauty, Gucci Beauty, Hugo Boss Fragrances, Marc Jacobs Fragrances. They also own a majority stake in Coty Beauty. Join me in collectively telling private equity...