American companies Panera Bread, Caribou Coffee and Einstein Bros Bagels have united to create a new fast-casual platform called Panera Brands.
Panera Brands is one of the largest fast-casual companies in the world, with nearly 4,000 locations and 110,000 employees across ten countries.
Panera Bread operates a chain of fast-casual restaurants, while Caribou Coffee is a coffeehouse company and Einstein Bros Bagels, an American chain that specialises in bagels and bagel sandwiches.
Panera Bread CEO Niren Chaudhary said: “Together as Panera Brands, we are united by our common values and shared belief that we can be force multipliers for good.
“We exist to provide exceptional experiences for our guests and to positively impact our communities, the planet, and our shareholders while unlocking the dreams of our teams.
“We believe Panera Bread, Caribou Coffee and Einstein Bros Bagels together will leverage each company’s unique expertise and services to build an unrivalled fast-casual platform with a tremendous runway for growth.”
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Chaudhary has been appointed as the Panera Brands Group CEO.
Einstein Bros Bagels CEO José Alberto Dueñas, and Caribou Coffee CEO John Butcher will report to Chaudhary while continuing as CEOs of their respective companies.
Chaudhary will also continue to lead Panera Bread as its CEO.
Panera Bread operates more than 2,100 bakery-cafes, Caribou Coffee has established its presence in the Upper Midwest region, as well as in ten countries and operates 713 stores while Einstein Bros Bagels operates 1,005 stores in the country.
Using Panera Bread’s omnichannel retail network, digital infrastructure, food innovation pipeline, and supply chain, Panera Brands will be well-positioned to turbocharge the growth in Caribou Coffee and Einstein Bros Bagels alongside Panera Bread.