Panera Brands to Go Public With Restaurateur Danny Meyer’s SPAC

Panera Brands, the owner of Panera Bread and Einstein Bros. Bagels, will go public again in a listing backed by Shake Shack Inc. founder Danny Meyer’s USHG Acquisition Corp.

USHG Acquisition will become an investor in Panera Bread when the casual-dining chain files for a traditional initial public offering, the two companies said Tuesday. That means Panera Bread won’t merge with USHG directly to become a public company, as has typically been the case with special purpose acquisition companies, or SPACs.