Panera Bread Scraps Reaches IPO Deal With Danny Meyer’s SPAC

Panera Bread’s parent company will no longer be made public in a deal where it would have received backing from the restaurateur Danny Meyerof the special purpose acquisition company, the latest deal to collapse due to economic uncertainty.

Panera Brands Inc., which owns its eponymous chain, Caribou Coffee and Einstein Bros. Bagels, struck a deal last year with Mr. Meyer’s SPAC, Acquisition of USHG this would have seen SPAC shareholders swap their shares for Panera shares after a planned IPO.