Bread, bagels and coffee shop chain Panera Brands has filed for an initial public offering (IPO) slated for 2024, according to reports.
Panera’s current private equity owner JAB in November decided to float the US ‘quick service’ chain, with JP Morgan hired as lead underwriter, according to a Financial Times report.
Earlier in the year, Panera was said to be preparing for "an eventual" IPO, having failed to reverse into a SPAC previously in 2022.
With close attention and scrutiny on the IPO market, any transaction will be closely watched by the investment community.
Despite a brief spate of floats during the summer – in which Birkenstock, Instacart (NASDAQ:CART) and Klaviyo came to market within days of each other - the IPO market did not open up as some speculated it might.