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Just in time for lunch, Panera is whetting investors’ appetites as it reportedly has put “strategic options” — including a possible sale — on the table.
The fast-casual bakery and sandwich chain, which has a market cap of more than $6.5bn, is said to be considering a possible sale after it received takeover interest, according to Bloomberg. The Bloomberg report said that there was “no certainty” a deal will ultimately be reached.
The company’s shares rose more than 11 per cent on the report, before paring those gains to trade up nearly 9 per cent. It is part of a growing wave of fast-casual eateries like Chipotle that endeavour to offer healthier fare with the same quick turnaround time as more conventional fast-food staples like McDonald’s.