Find Station

Krispy Kreme Owner Buys Panera Bread for $7 billion

The owner of the Krispy Kreme doughnut chain has bought the Panera Bread chain.

The JAB investment firm announced the $7-billion deal yesterday. It also announced plans to turn Panera into a private company. 

The investment firm also owns coffee brands including Keurig, Peet's and Caribou.

Panera has more than 2,000 locations and about $5 billion in annual sales. 

The chain is not expected to change its menu or offerings as a result of the sale.