Meyer himself will straightforwardly put resources into the Panera Bread proprietor at the hour of the IPO, Panera Brands said on Tuesday, and become the lead autonomous head of the organization’s board.
Normally, particular reason procurement organizations (SPAC) are shell firms raised with the purpose of later converging with a private element to take it public. On account of Panera, Meyer’s USHG Acquisition Corp will contribute following the IPO.
After the posting, a unit of Panera Brands will converge with USHG Acquisition for $287.5 million and the returns will be put resources into the eatery network proprietor.
The IPO plan comes four years after European venture company JAB Holdings took Panera private in an arrangement esteemed at about $7.5 billion, with the sandwich chain’s return coming when individuals are making a beeline for eateries again following quite a while of requesting in during lockdowns.
Café Dutch Bros Inc, doughnut chain Krispy Kreme and sausage creator Portillo’s Inc additionally opened up to the world this year.
Portions of USHG Acquisition were up almost 8%.
J.P. Morgan is going about as monetary counselor to Panera Brands, while USHG Acquisition will be exhorted by Piper Sandler and Co.