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In that year, the company appeared on Inc. magazine's list of the 500 fastest-growing companies in the U.S. On the average, company-owned Au Bon Pain bakery-cafés generated about $940,000 each, while the Panera/St. And we're always finding new ways to make every soup, salad, sandwich and sweet bakery treat you eat at Panera the best (and cleanest) it … By the end of 1996, Au Bon Pain had grown to 231 company-run and 58 franchised bakery-cafés. Taft's mission was to direct efforts to improve the operational level of each of the company's 224 units in the company's Au Bon Pain Division. Moreover, the company's competition was rapidly stiffening, thanks to the fact that the bagel and coffee café concept hit its faddish stride at about the same time. Among other things, sticking to some rigorous requirements that all prospective franchisees had to meet, it was positioned to accept only one out of every 400 franchise applicants, a luxury that few companies could afford. Nation's Restaurant News is part of the Informa Connect Division of Informa PLC. 1993-97: Company Acquires the St. Louis Bread Company before Sales Turn Sluggish. Panera Bread Co Class A. Panera Bread was originally the Au Bon Pain Co., which purchased the St. Louis Bread Company in 1993 as its headquarters, then changed the company name to Panera Bread and began a nationwide expansion. Panera Bread Catering Ordering Help Meet My Panera® Sign In Register Rapid Pick-Up. However, Panera Bread does not franchise individual bakery-cafés; rather, it sells multi-store area development agreements. In its home area in Missouri, the new franchised units were opened as St. Louis Bread bakery-cafés, but elsewhere they opened under a different name--Panera Bread. It had already tapped deeply into the high-traffic, eastern city markets, and it needed to branch into some fresh markets. As a result, in 1999 all of the Au Bon Pain Co. Inc. divisions were sold, and the remaining company was renamed Panera LLC. Panera Bread owns and operates a chain of restaurants that offers soups, salads, pasta, sandwiches and pastries. Discover all the key insights that make people want to work here. Previously, on October 26, 2016, Panera Bread Co. reported Profit Loss of $31,910,000 USD. In 1987, Ken and Linda Rosenthal founded The St. Louis Bread Company with the first location in Kirkwood, Missouri. When a new Panera restaurant is opened, the “mother” of the first Panera bread cooked in the 1980s is taken there no matter how far the new bakery is located. A major opportunity came in 1993, when Au Bon Pain acquired the St. Louis Bread Company. Market Cap : 7.15 B Enterprise Value : 7.15 B P/E (TTM) : P/B : + Add to Portfolio Email Alerts Stock PDF RSS Website Filings Download Batch Download Manual of Stocks™ Web APP. Panera Bread’s mission and vision statement are exactly what any future-oriented company would wish for especially while operating in some of the most dynamic and competitive sectors. The original Panera Bread Mission statement had an extremely narrow focus on one product offering—bread. Most of the bakery-cafés were located in and around major urban centers, including Boston, other New England cities, New York, Philadelphia, Pittsburgh, Washington, D.C., Columbus, Cleveland, Cincinnati, Chicago, St. Louis, Minneapolis, Los Angeles, Atlanta, and, outside the U.S., Santiago, Chile. Our talent, expertise, and efforts are directed toward providing our customers a friendly gathering place in which to relax and share the tradition of fresh-baked bread every day, as well as offering ways to extend the tradition to their family table with our take-home bread. Louis Bread Company had entered new markets and continued to grow, opening 51 company owned bakery-cafés and 44 franchise-operated units. Select Cafe Time. Initially, the chain started out as three Boston-area bakeries and a single cookie store that served both cookies and breads and croissants to its customers. The company's chief strategy was to provide high quality, fresh foods at reasonable prices and with greater variety than its chief market competitors. Louis Bakery concept and scheduled the first new franchise operated café for a 1997 opening. And it has shown that customers do not have to get comfortable with boring even in the food sector with the creativity it h… Niren Chaudhary is President/CEO at Panera Bread Co. See Niren Chaudhary's compensation, career history, education, & memberships. To support its bakery-café network, Panera also operates 11 fresh dough facilities. In November, Strang agreed to open 48 Panera Bread bakery-cafés in Pennsylvania, New Jersey, and Delaware. 2000-01: Accelerated Growth Promises a Solid Future for Panera. To understand it, one has to know that while making sourdough bread the Panera bakers use a small amount of the dough used to cook the previous batch of bread dough. The roots of the company were formed in 1981 when it was founded by two entrepreneurs, Ron Shaich and Louis Kane. Panera Bread's headquarters is located in Saint Louis, Missouri, USA 63127. Key moments in Panera Bread’s history Take a look back at highlights from the bakery-café chain’s years in business Ron Ruggless | Apr 06, 2017 JAB … We are Panera Bread and we believe that good food can bring out the best in all of us. In 1992, after working out a franchise development agreement in Chile, the company also began branching into foreign markets. Top Ranked Predictable Companies. The $72 million deal was consummated on May 16, 1999, when Bruckmann, Rosser, Sherrill & Co. took that division its separate way as ABP, Inc., a private company. Meanwhile, in 1991, Au Bon Pain went public, made its initial public offering (IPO), and continued its growth through expansion of its operations and acquisitions. The logo of Panera illustrates a woman with flowing hair caressing a loaf of bread which came to be known as “Mother Bread” and created the differential for the chain. Contact Ron Ruggless at [email protected], /sites/all/themes/penton_subtheme_nrn/images/logos/footer.png, Take a look back at highlights from the bakery-café chain’s years in business, © 2020 Informa USA, Inc., All rights reserved, Luby’s charts path for dissolving public company, 3 new celebrity-fueled virtual brands from Mariah Carey, DJ Pauly D and Mario Lopez, plus a food hall from Thrillist and more, Chipotle Mexican Grill rolls out new line of branded loungewear for those staying home for the holidays, Starbird Chicken raises $4 million in funding, DoorDash shares soar more than 85% in IPO, FAT Brands agrees to merge with controlling shareholder Fog Cutter Capital, Starbucks appoints Mellody Hobson as non-executive chair of the board of directors, Focus Brands COO and President Kat Cole will leave the company at the end of the year, Taco Bell’s trimmed value menu to expand with $1 Loaded Nacho Taco, Allowed HTML tags:


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