Arby’s is the second-largest sandwich restaurant brand in the world and was founded in 1964. It now has more than 3,500 restaurants in 9 countries and over 80,000 employees. Arby’s is well known for slow roasted, sliced roast beef sandwiches and famous Market Fresh sandwiches. Arby’s revenue was almost $3.9B in 2019. Roark Capital Group acquired 81.5% of Arby's Restaurant Group in July 2011. Roark Capital Group has over $33B in assets. After the Arby’s acquisition, Roark created Inspired Brands and acquired additional restaurant companies. Both Arby’s and Roark Capital Group are headquartered in Atlanta, GA.

Inspire Brands is a privately held company and the 2nd largest restaurant company in the world. Their brands include Arby’s, Sonic and Dunkin Donuts. They manage over 32,000 restaurants, 650,000 company and franchise members, and have over $30B in global system sales. Inspire Brands is headquartered in Sandy Springs, GA.

Tops Markets is a leading supermarket retailer in New York and Pennsylvania markets. With over 14,000 employees, 140+ full-service supermarkets including 5 operated by franchisees under the Tops banner, and 59 fuel stations. Tops also operates two distribution facilities in Lancaster and West Seneca, NY. In 1991, the supermarket was acquired by Ahold, a major international food retail conglomerate based in the Netherlands. In 2006, Ahold announced that they would sell TOPS Markets to Morgan Stanley Private Equity. In November 2013, six members of TOPS’ executive team, led by now Chairman and CEO Frank Curci, purchased the company from Morgan Stanley Private Equity, returning TOPS back to complete local ownership. In November of 2021, Tops Markets and Price Chopper/Market 32 announced the closure of their merger. Under this agreement, Northeast Grocery Inc. would become the two stores’ parent company with the two brands keeping and maintaining their unique brand identities. Now at almost 300 stores, the merger vastly increased the two grocers’ collective footprint in the northeast. Tops Friendly Markets is headquartered in Williamsville, NY.

Chisholm Corner is a convenience store chain in Southwest Oklahoma and North Texas. The first Chisholm Corner opened in 2000 with the basic principle of providing customers with clean and friendly convenience store facilities. Each location provides drivers with access to a welcoming facility from which to purchase fuel, snacks, deli options, and at most locations a drive-thru. Over the last 20 years, the company has grown into a 19-store chain. In 2022, a division of Monfort’s Companies, 7E CO Holdings, LLC, acquired Chisholm Corner for an undisclosed amount. All locations will be operated by 7E CO Holdings, LLC under the Chisholm Corner brand name. The company is headquartered in Duncan, OK.

Monfort Companies is a privately held investment management company who’s specialties include: Private Capital, Real Estate, Ranch & Agriculture, Sports & Entertainment, Energy, Aviation, Restaurants, and Gas & Convenience. 7E CO Holdings, LLC is the parent entity to Monfort Companies’ convenience store business. 7E Holdings, LLC has been investing in and operating gas stations and convenience stores since 2016. They purchased a 19-store Chisholm Corner chain in 2022. After the acquisition, the firm now owns 78 stores in Colorado, Oklahoma, Texas, Minnesota, and Wisconsin under brands including 7-Eleven, Speedway, Jack's and Monfort Express. They are headquartered in Denver, CO.

Chisholm Corner is a convenience store chain in Southwest Oklahoma and North Texas. The first Chisholm Corner opened in 2000 with the basic principle of providing customers with clean and friendly convenience store facilities. Each location provides drivers with access to a welcoming facility from which to purchase fuel, snacks, deli options, and at most locations a drive-thru. Over the last 20 years, the company has grown into a 19-store chain. In 2022, a division of Monfort’s Companies, 7E CO Holdings, LLC, acquired Chisholm Corner for an undisclosed amount. All locations will be operated by 7E CO Holdings, LLC under the Chisholm Corner brand name. The company is headquartered in Duncan, OK.

Monfort Companies is a privately held investment management company who’s specialties include: Private Capital, Real Estate, Ranch & Agriculture, Sports & Entertainment, Energy, Aviation, Restaurants, and Gas & Convenience. 7E CO Holdings, LLC is the parent entity to Monfort Companies’ convenience store business. 7E Holdings, LLC has been investing in and operating gas stations and convenience stores since 2016. They purchased a 19-store Chisholm Corner chain in 2022. After the acquisition, the firm now owns 78 stores in Colorado, Oklahoma, Texas, Minnesota, and Wisconsin under brands including 7-Eleven, Speedway, Jack's and Monfort Express. They are headquartered in Denver, CO.

Ashley Furniture is an American furniture store chain founded in 1997. It now has over 2,000 locations worldwide that sell Ashley Furniture products. The chain has both corporate and independently licensed and operated furniture stores. The parent company Ashley Furniture Industries, run by a father and son team, is the world's largest home furniture manufacturer. The company manufactures and distributes home furnishings throughout the globe and has more than 18,000 employees. Ashley Furniture Industries sells home furnishings and accessories available through two distribution channels: independent furniture dealers and the more than 700 Ashley Furniture HomeStore retail furniture stores. These locations are independently owned and operated by licensees in the United States, Canada, Mexico, Central America, and Japan. Both Ashley HomeStore and parent company Ashley Furniture Industries are privately held. Ashley HomeStore is headquartered in Arcadia, WI.

Scooter’s Coffee is an American drive-thru specialty coffee kiosk chain. The private company is one of the fastest-growing drive-thru coffee franchises in the nation. Scooter’s prides itself on roasting only the finest coffee beans in the world. Founded in 1998 in Bellevue, Nebraska as “Scooter’s Java Express”, the chain rebranded and began franchising (2001) to meet the growing demand for its products. As of October 2023, the chain is approaching 750 stores in 30 states and plans to have more than 1,000 stores open by the end of 2024. Scooter’s Coffee is headquartered in Omaha, NE.

Dollar General Corporation (NYSE: DG) is an American chain of variety stores. The stores deliver everyday low prices on items including food, snacks, health, and beauty aids, cleaning supplies, basic apparel, housewares, seasonal items, paper products, and much more from America’s most-trusted brands and products, along with high-quality private brands. The company began in 1939 as a family-owned business called J.L. Turner and Son. In 1955, the name changed to Dollar General Corporation, and in 1968 the company went public. As of February 2024, the company operates 19,986 retail stores in 48 U.S. states and Mexico, in addition to 18 distribution centers for non-refrigerated products, ten cold storage distribution centers, and three combination distribution centers. In 2023, the company had a market cap of $29.84B and a revenue of $39.03B. The company is headquartered in Goodlettsville, TN.

Caliber Collision Centers is the largest collision repair company in America with more than 1,500 I-CAR Gold Class Professional certified collision repair centers across 40 states. Founded in 1997, Caliber is consistently ranked among the highest in customer satisfaction in the industry and backs all repair work with a written, lifetime warranty available at any of its 1,500+ repair centers. The company repairs more than 450,000 vehicles annually. Caliber Collision has undergone rapid recent growth by aggressively acquiring various local auto body repair shops. Caliber Collision has developed strategic partnerships with 57 car dealerships throughout the U.S. in addition to 34 insurance carriers. The company earns roughly $4B in annual revenue and is headquartered in Lewisville, TX.

Caliber’s majority ownership is held by Hellman and Friedman, one of the most successful investment organizations in the private equity industry. Founded in 1984, the firm has raised more than $35B of committed capital and invested in more than 80 companies. They are headquartered in SanFrancisco, CA.

Hooters is a beach-themed casual restaurant that features music, sports on large flat screens, and a menu that includes seafood, sandwiches, burgers, salads, and of course, the restaurant's specialty, chicken wings. The first Hooters was opened in 1983 in Clearwater, Florida. Hooters is the registered trademark used by two American restaurant chains: Hooters, Inc. and Hooters of America, LLC. which is owned by the private investment firm Nord Bay Capital and TriArtisan Capital Advisors (as of 2019). While Hooters, Inc. retains control over restaurants in a few territories, Hooters of America, LLC sells franchising rights to the rest of the United States and international locations. Hooters of America, LLC is operator and franchisor of 370 locations in 35 states and 18 countries as of 2023. The privately held corporation also owns and operates 205 locations. Hooters, Inc., is headquartered in Clearwater, Florida, while Hooters of America, Inc. is headquartered in Atlanta, Georgia.

Chipotle Mexican Grill, Inc., (NYSE: CMG) often known simply as Chipotle, is an American chain of fast casual restaurants in the U.S., United Kingdom, Canada, Germany, and France, specializing in bowls, tacos and Mission burritos that are made to order in front of the customer. Its name derives from chipotle, the Nahuatl name for a smoked and dried jalapeño chili pepper. Founded by Steve Ells in 1993, Chipotle had 16 restaurants (all in Colorado) when McDonald’s Corporation became a major investor in 1998. By the time McDonald’s fully divested itself from Chipotle in 2006, also the year the company went public, the chain had grown to over 500 locations. In 2018, Chipotle announced the relocation of their corporate headquarters to Newport Beach, California, in Southern California, ending their relationship with Denver after 25 years. Today, the company has more than 3,200 locations in 49 states and territories, over 50 international Chipotle restaurants, and employs over 100,000 people. Chipotle had a 2022 reported revenue of $8.63B and a current market cap of $56.08B.

Family Dollar is an American retail, variety discount store chain, with over 8,000 locations in all states except Alaska and Hawaii. The chain sells household cleaners, food, health and beauty aids, toys, apparel, home fashions, and more—all for everyday low prices. Founded in 1959, in North Carolina, Family Dollar went public in 1970. In 2001, they joined the S&P 500 stock market index and in 2002, the Fortune 500 list of largest publicly held companies.

In 2015, Family Dollar was acquired by Dollar Tree (NASDAQ: DLTR). This brought the total to over 15,000 locations with the combined stores of Family Dollar and Dollar Tree. Dollar Tree has a current market cap of $34.72B. The company has an investment grade credit rating of BBB, and revenue for 2021 was $26.31B. Dollar Tree is headquartered in Chesapeake, VA.

Strickland Brothers is a fast-growing one-stop shop for oil changes and vehicle maintenance services. The company is well-known for its drive-thru 10-minute oil change, and offers a list of comprehensive professional automotive maintenance and repair services, as well as state inspection services, fleet services and free courtesy checks. Established in 2016 in Thomas, North Carolina, by 2018 the company had more than five units opened throughout the Carolinas. In 2020 through franchising, they started national expansion, awarding 50 units in 10 states within the first 6 months. Today, Strickland Brothers has over 170 locations and more than 200 locations in various phases of development. In May 2021 the company gained an investment from private equity firm Princeton Equity Group to help fuel growth. Strickland Brothers is headquartered in Winston Salem, North Carolina.

Princeton Equity Group is a private equity firm that invests in growth-stage companies with a focus in franchised and multi-unit business models. The firm, founded in 2006 partners with companies across the consumer, healthcare, and business service industries. Princeton Equity Group’s investments include European Wax Center, Massage Envy, Sola Salons, Urban Air, and many more. The firm is headquartered in Princeton, New Jersey.

WhiteWater Express Car Wash is a high-growth, multi-state operator of express car washes. The chain uses state-of-the-art technology using only half the amount of water as the industry standard, while ensuring that their car washes are completed in under three minutes. In addition to their soft foam wash, WhiteWater uses tri-foam color polish, gold carnauba wax, and rain repellent glass wax, and also offer a wide variety of free after wash on-site perks such as self-serve vacuum stations and wet or dry mat cleaning machines. Founded in 2015, in Houston, Texas, in 2021 WhiteWater partnered with Freeman Spogli & Co., a private equity firm. In 2022 WhiteWater grew by nearly 50%, closing out the year with 88 sites, in six states and 12 MSAs, with plans to exceed 100 locations in 2023. They are headquartered in Houston, Texas.

Freeman Spogli & Co is a private equity firm dedicated to investing with management in middle market companies in the consumer and distribution sectors through leveraged buyouts and recapitalizations. The firm has invested over $5.3B in 67 portfolio companies with an aggregate transaction value of over $25B. Current investment include El Pollo Loco, Batteries + Bulbs, Cafe Rio, Planet Fitness, ARHAUS, and more. The firm is headquartered in Los Angeles, California.

Walgreens is an American company that operates the second-largest pharmacy store chain in the United States. It specializes in filling prescriptions, health and wellness products, health information, and photo services. Walgreens was founded by Charles R. Walgreen in Chicago, IL in 1901 at which time their stores were connected to local groceries. In 2009 Walgreens changed their layouts to be freestanding corner stores, with the entrance on the street with the most traffic flow, with many stores featuring a drive-through pharmacy. In 2014 Walgreens became a subsidiary of holding company Walgreens Boots Alliance when it merged with Switzerland-based Alliance Boots. As of December 2023, Walgreens operates approximately 13,500 locations across the U.S., Europe, and Latin America, with over 8,600 retail pharmacies located in the U.S..

Walgreens Boots Alliance, Inc., (NASDAQ: WBA) is a British-American holding company that owns the retail pharmacy chains Walgreens in the US and Boots in the UK, as well as several pharmaceutical manufacturing and distribution companies. WBA employs more than 325,000 people and has a presence through its portfolio of consumer brands: Walgreens, Boots, Duane Reade, the No7 Beauty Company, Benavides in Mexico, and Ahumada in Chile. In 2023, the company’s market cap was over $22.51B and its revenue was $142.40B. Walgreens Boots Alliance, Inc., has a credit rating of Moody's/S&P Baa2/BBB- and is headquartered in Deerfield IL.

City Barbeque, LLC (dba City BBQ) is a fast-casual restaurant company focused on authentic, "smoker-to-table" barbeque. City Barbeque serves beef brisket, pulled pork, turkey breast, pulled chicken, smoked sausage, bone-in chicken, and St. Louis–cut ribs. City Barbeque smokes meats and makes sides & desserts in each restaurant daily. The company was founded in 1999 in Columbus, OH by former CEO Rick Malir and a team of barbeque enthusiasts who won the American Royal Invitational for the best brisket in the country. In addition to their restaurants, the company offers catering services for both corporate and private events. Though their largest presence is still in Ohio with over 25 locations, the brand now operates over 60 corporate restaurants across Ohio, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina and Wisconsin. The brand has received national publicity and is set for even more growth after partnering with leading private equity firm, Freeman Spogly & Co in 2016. The private company is headquartered in Columbus, OH.

Freeman Spogli & Co is a private equity firm dedicated to investing with management in middle market companies in the consumer and distribution sectors through leveraged buyouts and recapitalizations. The firm has invested over $5.3B in 67 portfolio companies with an aggregate transaction value of over $25B. Current investments include El Pollo Loco, Batteries + Bulbs, Cafe Rio, Planet Fitness, ARHAUS, and more. The firm is headquartered in Los Angeles, California.

Bojangles OpCo, LLC., doing business as Bojangles, is an American regional chain of fast food restaurants that specializes in cajun-seasoned, fried chicken and buttermilk biscuits created from scratch. Bojangles’ brand is dedicated to honoring traditional Southern recipes through a new generation of unique flavors, for families and friends who desire the simple goodness of a hometown experience. Founded in 1977 in Charlotte, NC, the chain currently operates approximately 800 plus locations in 14 states. Bojangles is headquartered in Charlotte, NC. and had revenue of $574M in 2021.

In January 2019, Bojangles was acquired by The Jordan Company and Durational Capital Management, making it a privately held company. TJC partners with profitable companies to realize significant opportunities for long-term growth. The Firm's portfolio includes 41 companies that generate approximately $19.7B of annual revenue.

Family Dollar is an American retail, variety discount store chain, with over 8,000 locations in all states except Alaska and Hawaii. The chain operates general merchandise retail discount stores providing consumers with a selection of competitively-priced merchandise in convenient neighborhood stores. Founded in 1959, in North Carolina, Family Dollar went public in 1970. In 2001, they joined the S&P 500 stock market index and in 2002, the Fortune 500 list of largest publicly held companies. In 2015, Family Dollar was acquired by Dollar Tree. 

Dollar Tree (NASDAQ: DLTR) ranked 137 on the Fortune 500 list, is a leading operator of discount variety stores. They operate more than 16,000 stores across the 48 contiguous states and five Canadian provinces, under the brands Dollar Tree and Family Dollar. Dollar Tree has a current market cap of $29.58B. The company has an investment grade credit rating of BBB, and revenue for 2022 was $26.31B.  Dollar Tree is headquartered in Chesapeake, VA. 

7-Eleven is the world's largest operator, franchisor, and licensor of convenience stores. It operates, franchises and/or licenses more than 83,000 stores in 19 countries, including over 12,500 retail locations in the U.S. By acquiring Speedway (2020), the retailer picked up 4,000 more stores in North America, boosting presence to 47 of the top 50 MSAs. The company's Financial Services segment offers banking, leasing, and credit card services. Its Specialty Store Operations segment operates specialty retail stores. It operates approximately 21,400 stores in Japan. 7-Eleven has an investment grade credit rating. The company’s market cap is over $44B and in 2022 revenue was over $87.60B. The chain was founded in 1927 as an ice-house storefront in Dallas TX. 7-Eleven is privately owned and as of 1991 is a wholly owned subsidiary of Seven-Eleven Japan Co., Ltd in Tokyo, Japan.

Whataburger is an American regional fast food restaurant chain. The company, founded by Harmon Dobson and Paul Burton, opened its first restaurant in Corpus Christi, TX, in 1950. Known for their many varieties of hamburgers, they also offer chicken sandwiches, sides, and soft drinks as well as a breakfast menu. The company currently has over 50,000 employees and 946 locations with a great majority of them located in TX and others in FL, AZ, and several other southern states. With more than $2.5B revenue annually, Whataburger is headquartered in San Antonio, TX.

On June 14, 2019, the Dobson family sold its majority stake in the company to BDT Capital, a Chicago-based investment company. Byron David Trott is the founder, chairman and CEO of BDT Capital Partners, a merchant bank that provides advice and capital to family and founder-led companies. BDT has partnered with other companies such as Krispy Kreme Doughnuts and Peet’s Coffee & Tea and currently has deployed more than $30B in capital.

7-Eleven is the world's largest operator, franchisor, and licensor of convenience stores. It operates, franchises and/or licenses more than 83,000 stores in 19 countries, including over 12,500 retail locations in the U.S. By acquiring Speedway (2020), the retailer picked up 4,000 more stores in North America, boosting presence to 47 of the top 50 MSAs. The company's Financial Services segment offers banking, leasing, and credit card services. Its Specialty Store Operations segment operates specialty retail stores. It operates approximately 21,400 stores in Japan. 7-Eleven has an investment grade credit rating. The company’s market cap is over $44B and in 2022 revenue was over $87.60B. The chain was founded in 1927 as an ice-house storefront in Dallas TX. 7-Eleven is privately owned and as of 1991 is a wholly owned subsidiary of Seven-Eleven Japan Co., Ltd in Tokyo, Japan.

SQRL Fuel operates gas stations with coffee-shop-like convenience stores. Their brand focuses on being family friendly and environmentally conscious as well as offering high quality products, several of which are sourced from local businesses. Locations feature a juice/smoothie bar, local ice cream, electric vehicle charging stations, free WIFI and clean bathrooms. Some locations feature solar panels and full service fuel pumps. As of March 2023, there are over 100 locations spanning 10 states, with over half of those locations being in Arkansas and Florida. SQRL Fuel stations are operated by SQRL Holdings, LLC (also known as Project SQRL) which has a portfolio of namesake companies in the sectors of commercial real estate, convenience stores, fuel supply, mineral rights, credit card processing, and advertising media. The private company is headquartered in Little Rock, Arkansas.

Dutch Bros. Coffee (NYSE: BROS) is a drive-through, specialty coffee chain with company-owned and franchised locations expanding throughout the western United States. The vast majority of its stores are drive-thru stands, selling hot and cold handcrafted drinks, including non-coffee options, and a selection of baked goods. Founded in 1992 by brothers Dane and Travis Boersma, Dutch Bros began with a double-head espresso machine and a pushcart in Grants Pass, Oregon. Today, they operate 716 locations across 14 states, with plans to open at least 150 shops in 2023, of which at least 130 shops will be company-operated. The chain became publicly traded in 2021, has a current market cap of $1.69B, and a 2022 reported revenue of $739M, which represents a nearly 50% increase from the prior year. Dutch Bros. Coffee's headquarters are in Grants Pass, OR.  

Citibank, N.A. is the primary banking subsidiary of financial services multinational Citigroup. Citibank was founded in 1812 as the City Bank of New York. Despite a merger with First National Bank in 1955, the bank had always been nicknamed "Citibank" so in 1976, First National City Bank was renamed Citibank, N.A.. Citicorp, the holding company for Citibank, is a subsidiary of Citigroup. Citigroup's global retail branch network, branded Citibank, has more than 4,600 global branches and holds more than $300B in deposits. Citibank is the 4th largest retail bank in the United States based on deposits.

Citigroup, Inc. (NYSE: C), or Citi, is an American multinational investment bank and financial services corporation and the third-largest banking institution in the United States. In 1998, Citigroup was founded after a merger between Citibank and Travelers Group. Citi has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions, providing corporations, governments, investors, institutions, and individuals with a broad range of financial products and services. They have an investment grade S&P rating of A+ and a long-term Moody’s rating of Aa3. They have a current market cap of $116.48B and a 2023 revenue of $79.49B. Company headquarters are in New York City, NY.

Sanctuary Medicinals, LLC (dba Sanctuary Cannabis) is a vertically integrated cannabis company with operations in Florida, New Hampshire, and Massachusetts. Founded in 2015, the company is licensed to sell medicinal and recreational cannabis, with expertise in the cultivation, extraction, distribution, and sales of its cannabis products. Products offered to consumers include but are not limited to the following: flowers, tinctures, oils, extracts, salves, patches, and various edible options. After beginning operations exclusively in Massachusetts, Sanctuary Cannabis has been able to expand outside of the state and has since seen consistent growth by entering some of the top cannabis markets in the country. As of 2020 Sanctuary Medicinals Inc. has medical, recreational, and collocated licensed facilities throughout Massachusetts with a sister company Sanctuary ATC in New Hampshire. Over the past few years, Sanctuary has opened over 10 facilities across the state of Florida, one of the fastest growing cannabis markets in the entire nation. As of the beginning of 2023, they operate over 20 retail locations across 3 states. The company is headquartered in Littleton, Massachusetts.

Burger King is an American-based multinational chain of hamburger fast food restaurants, and the second largest fast food hamburger chain in the world. The Burger King menu features their signature Whopper and Whopper Jr. hamburgers, in addition to many signature burgers, chicken sandwiches, breakfast sandwiches and platters, sides, and beverages. Founded in 1954, in Jacksonville, Florida, as the Insta-Burger King, today Burger King has 18,911 completely franchised locations worldwide and global sales of over $20.38B. The Burger King chain is a subsidiary of Toronto-based Restaurant Brands International and is headquartered in Miami, FL.

Restaurant Brands International Inc. (NYSE: QSR), or RBI, is an American-Canadian based multinational fast food holding company, with over 30,000 restaurants operating in over 100 countries. The company’s brands include: Burger King, Tim Horton’s and Firehouse Subs. The holding company’s 2022 revenue was reported at $6.5 B a 13.4% increase to the prior year. The company has a market cap of $28.92B and a BB S&P long-term credit rating.  RBI is headquartered in Toronto, Ontario.

G&S Automotive Canton, Inc. is a full service automotive repair shop specializing in exhaust and performance serving the Cherokee County area for over 14 years. The company has over 60 years of experience between them diagnosing and repairing vehicles. From the exhaust manifold to the tailpipe tips, G&S techs are capable of servicing most vehicles of all sizes and makes/models. The single-location company is headquartered in Canton, GA.

Panera Bread Company is an American bakery-café fast casual restaurant chain, offering bakery items, pasta, salads, sandwiches, soups and specialty drinks. Founded in 1987 as Paradise Bakery & Cafe, a community bakery, they rebranded as Panera Bread in September 2015. Today, there are over 2,100 bakery-cafes, operating under the Panera Bread or Saint Louis Bread Company, in 48 states and Ontario, Canada. Panera was acquired by JAB Holding Co. in 2017 for $7.5 billion and became a private company. They are now headquartered in Sunset Hills, MO. 

JAB Holding Company is a German conglomerate that includes investments in companies operating in the areas of consumer goods, forestry, coffee, luxury, fashion, animal health, and fast food, among others. JAB Holding Company owns Bagel Brands, Caribou Coffee, Einstein Noah Restaurant Group, Espresso House, Krispy Kreme, Peet’s Coffee and Pret a Manger, as well as Keurig and Dr. Pepper. Established in 2012 as a partner-led investment firm, with $9B of invested capital, today the company manages over $50B in capital. JAB Holding Company is headquartered in Luxembourg. 

Panera Bread Company is an American bakery-café fast casual restaurant chain, offering bakery items, pasta, salads, sandwiches, soups and specialty drinks. Founded in 1987 as Paradise Bakery & Cafe, a community bakery, they rebranded as Panera Bread in September 2015. Today, there are over 2,100 bakery-cafes, operating under the Panera Bread or Saint Louis Bread Company, in 48 states and Ontario, Canada. Panera was acquired by JAB Holding Co. in 2017 for $7.5 billion and became a private company. They are now headquartered in Sunset Hills, MO. 

JAB Holding Company is a German conglomerate that includes investments in companies operating in the areas of consumer goods, forestry, coffee, luxury, fashion, animal health, and fast food, among others. JAB Holding Company owns Bagel Brands, Caribou Coffee, Einstein Noah Restaurant Group, Espresso House, Krispy Kreme, Peet’s Coffee and Pret a Manger, as well as Keurig and Dr. Pepper. Established in 2012 as a partner-led investment firm, with $9B of invested capital, today the company manages over $50B in capital. JAB Holding Company is headquartered in Luxembourg.