Dive Brief:
- Panera will move its headquarters from St. Louis, Missouri, to Weston, Massachusetts, which is located in the Boston Metro area, according to an internal memo sent to corporate team members earlier this week.
- The new headquarters will open in July 2027, CEO Paul Carbone said in the memo shared with Restaurant Dive.
- The move is part of the Panera RISE turnaround plan, meant to support the chain’s next chapter of growth. The new headquarters will allow for “deeper collaboration, faster decision-making and a more unified culture,” Carbone said.
Dive Insight:
Panera joins a growing list of chains moving or expanding their headquarters in response to shifting market conditions.
Starbucks plans to open a second headquarters in Nashville, while In-N-Out is in the process of opening a second headquarters in Tennessee to support its growth in the East. Shake Shack has also been working on a corporate support center in Atlanta. KFC also said last year that it would move its headquarters from Kentucky to Texas.
Panera plans to maintain its St. Louis support center, but many of its St. Louis support center and remote team roles will move to the new Weston headquarters, Carbone said.
“Multiple factors were carefully considered to determine which roles would relocate, and we understand the personal and professional impact this may have,” he wrote.
Panera has undergone a fair amount of changes already this year to support its turnaround plan and goal of reaching $7 billion in sales by 2028. It added several items to its menu, including its Salad Stuffers, Market Bowls and Mix & Match value menu. The fast casual chain also began piloting an updated rewards program earlier this year, and will begin limiting its Sip Club beverage subscription to 30 drinks per month in mid-August.
