Panera Bread Scraps IPO Deal With Danny Meyer’s SPAC

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The guardian firm of Panera Bread will now not go public in a deal the place it will have obtained backing from restaurateur Danny Meyer’s special-purpose acquisition firm, the most recent deal to collapse resulting from financial uncertainty.

Panera Manufacturers Inc., which owns its namesake chain, Caribou Espresso and Einstein Bros. Bagels, struck a deal last year with Mr. Meyer’s SPAC, USHG Acquisition that will have seen shareholders of the SPAC change their shares for Panera inventory after a deliberate IPO.

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