Panera is repurchasing Au Bon Pain after two decades of split

Panera CEOand founder Ron Shaich said in statement Panera sold Au Bon Pain back in 1999 but is repurchasing to expand to hospitals, universities, and urban centers, according to Shaich. Shaich will also be replaced by Panera's president, Blaine Hurst, but continue to oversee the company's strategy as chairman. Panera was also acquired by conglomerate JAB, which owns Krispy Kreme and Peet's Coffee. The deal was worth $7.5 billion and closed in July.