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The husband and wife team who started the chain have sold a controlling interest to TPG Growth.
The private-equity company with stakes in chains ranging from Auntie Anne's to Culver's has reportedly offered more than $2 billion.
He'll be succeeded by Blaine Hurst, but will remain involved with the chain while simultaneously serving in a strategic role for owner JAB Holdings.
The acquisition will provide Panera with an entry into nontraditional sites, and reunite management with a brand Panera once owned and operated.
Carrols Corp. noted little difference in the performance of its oldest and newest stores.
The move is aimed to expand the diner-themed concept.
Diversified Restaurant Holdings is pursuing a sale or other extraordinary option.
The steakhouse chain is slated to acquire all six of its locations in the state.
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