The Ledger
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Panera generated a 25% IRR over two decades, outperforming Berkshire Hathaway.
“Panera was the best performing restaurant stock over two decades. Its last two decades produced 25% IRR In fact, somebody told me we actually beat Warren Buffett and Berkshire Hathaway.”
Ron Shaich was one of the original co-founders of No Labels.
“I was one of the eight or nine people that co-founded a group called No Labels here in the United States, which is meant to reduce the hyper-partisanship in D.C., the polarization, and focus us on long-term thinking.”
JAB acquired Panera Bread for $7.8 billion in a historic deal.
“And they paid for it, and what, at that time, was the largest or second largest U.S. Restaurant deal ever done. 7.8 billion dollars, and among the highest multiples.”