St. Louis — Panera Bread Company and JAB have entered into a definitive merger agreement under which JAB will acquire Panera for approximately $7.5 billion. The agreement has been unanimously approved by Panera’s board of directors.
restaurants
Orlando, Fla. — Darden Restaurants, Inc. has agreed to acquire Cheddar’s Scratch Kitchen (Cheddar’s) for $780 million in an all-cash transaction. Cheddar’s will add to Darden’s portfolio of differentiated brands, which currently includes Olive Garden, LongHorn Steakhouse, Yard House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V’s.
Bethesda, Md. — GTM Architects, an award-winning residential and commercial architectural firm, has completed some design work with Sugar Factory American Brasserie at six new locations across the U.S., including three that recently opened: a 9,000-square-foot restaurant in Chicago, Foxwoods Resort & Casino in Mashantucket, Conn., and its largest restaurant in Las Vegas.
Franklin, Tenn. — CKE Restaurants Holdings, Inc. (CKE), parent company of Carl’s Jr.® and Hardee’s®, has named Jason Marker as the company’s new chief executive officer. Most recently president of Kentucky Fried Chicken® U.S. (KFC), Marker has extensive domestic and international QSR experience. He is expected to start as CEO in April.