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Fairness Opinion Detail
PNRA FOOpen source
Panera Bread Company to JAB Holdings Company
Deal Information
Target
Panera Bread Company
Acquiror
JAB Holdings Company
Sector
Restaurants
Target Type
Public
Acquiror Type
Strategic
Advisors
Morgan Stanley
Transaction Metrics
Enterprise Value
EV / LTM Sales
EV / LTM EBITDA
17.8x
EV / Fwd EBITDA
Advisor Transaction Comparables
Comparable transactions cited by the advisor, excluding the subject transaction.
Advisor: Morgan Stanley
AV/LTM EBITDA selected range: 14.5x - 18.5x
15 comps