Panera Bread sold in $7.5B deal

ST. LOUIS — Panera Bread Co. is being purchased by JAB Holdings, the owner of Caribou Coffee, in a deal reportedly worth $7.5 billion.

JAB Holdings offered $315 per Panera share. Panera shares had risen 4.6 percent from March 31 through Tuesday's close of $274. The stock is up another 13 percent to $309.49 in pre-market trading today.

Luxembourg-based JAB has purchased several U.S. breakfast and coffee companies in recent years, including Krispy Kreme Doughnuts and Keurig Green Mountain Inc.

St. Louis-based Panera has 2,000 bakery/cafes throughout the United States including several in the Mahoning Valley operated by Covelli Enterprises.