Weekly Global News Wrap: Panera to go public again; DoorDash widens reach with Wolt acquisition; Fast food chains grow appetite for celebrity partnerships
Here is a summary of the most interesting news stories of the week from around the world.
Panera Bread is readying to go public again, also announcing it has secured an investment from special purpose acquisition company USHG Acquisition Corp. As noted by CNBC, Panera has been private since JAB Holding bought it for $7.5 billion in 2017. Read more here.
Sweetgreen said it expects to sell stock at US$23-$25 per share, raising up to US$312.5 million in an initial public offering. As reported by Bloomberg, the fast casual chain could have a market valuation of about $2.7 billion based on the total number of shares outstanding after the IPO. Read more here.
DoorDash is set to acquire Finland-based delivery provider Wolt for US$8 billion in stock, Restaurant Business reported. The move will vastly expand the delivery platform's international footprint, as Wolt operates in 23 countries, 22 of which will be new markets. Read more here.
Major fast food chains continue their string of unique partnerships with international celebrities. In separate reports from CNN, McDonald's is partnering with Mariah Carey for 12 days of giveaways whilst Starbucks teamed up with Taylor Swift to unveil the singer’s favorite drink - a grande caramel nonfat latte.
In separate reports from Nation’s Restaurant News, Tim Hortons is collaborating with Justin Bieber for a limited-edition selection of Timbiebs Timbits and merchandise, and Popeyes is expanding its collaboration with rapper Megan The Stallion, by offering merchandise inspired by anime art.
