US restaurant chain Panera to be sold for US$7.5b

London

A BILLIONAIRE European family agreed on Wednesday to add the Panera restaurant chain to its growing empire of American coffee and food favourites for US$7.5 billion, including debt.

JAB Holding Company, the investment arm of the Reimanns of Germany, who are heirs to the consumer goods company Joh A Benckiser, said that the transaction would be carried out through an investment vehicle known as JAB BV.