A Luxembourg-based conglomerate is buying out BreadCo, which is better known to you non-St. Louisans as Panera. In related news, I turn around, and its shares have been trading in the 270s for while, and of course buyout rumors spiked them into the 310s. As late as January 2008, it was trading under 32. When in the hell did The Street fall in love with the f’n BreadCo? Yeah, I like them, but not like that, and I don’t see anything they’re doing to see that their stock price would multiply by 8.5 in the last nine years and change.
The conglomerate doing the buyout has interests in a handful of coffee microroast outfits, so bet on BreadCo’s coffee changing.
Also, it’s not as if this kind of thing should shock me anymore, because it’s been happening, but the trend of fewer and fewer real business shots being called from St. Louis is continuing.