Abernathy McGregor represents European investment firm JAB Holdings as it slates an initial public offering for its Panera Brands unit composed of Panera Bread, Caribou Coffee and Einstein Bros. Bagels.
USHG Acquisition Corp., a SPAC sponsored by Danny Meyer's Union Square Hospitality Group, has agreed to invest in Panera's stock once the IPO is completed.
Meyer will invest his own money in Panera Brands and become lead independent director of the unit.
Niren Chaudhary, CEO of Panera, has "long admired Danny's work as he built some of today's most beloved brands with a relentless focus on hospitality and culture."
Meyer said Panera Brands meets his investment criteria to combine with "a purpose-driven business that is scalable and built for the long haul."
He's excited to partner with Panera Brands alongside JAB, which will remain an investor in the company.
AbMac CEO Tom Johnson represents JAB.
The firm is part of Havas Group's AMO network.