JAB to acquire majority stake in Pret A Manger
Pret A Manger (Pret), a leading company in the ready‐to‐eat food market, and JAB, a global investment firm, have announced that JAB will acquire Pret from Bridgepoint, an international private equity firm and its majority owner, and other minority shareholders.
Pret A Manger (Pret), a leading company in the ready‐to‐eat food market, and JAB, a global investment firm, have announced that JAB will acquire Pret from Bridgepoint, an international private equity firm and its majority owner, and other minority shareholders.
Pret maintains a strong presence in the United Kingdom and boasts a rapidly growing international footprint with a presence in the United States, Hong Kong/China, and France. Pret’s sandwiches, salads, and wraps are freshly made each day in shop kitchens using quality ingredients. The company operates 530 stores worldwide, generating group revenues of £879 million ($1.16 billion).
“This agreement recognizes the hard work of all our amazing teams around the world, said Clive Schlee, CEO of Pret A Manger. “Bridgepoint has been wonderful owners of the business for more than a decade. All of us at Pret believe JAB will be excellent long‐term strategic owners. JAB believes in Pret’s values and supports our growth plans. I am really looking forward to this next chapter of Pret’s story.”
Terms of the transaction, which is expected to be completed this summer, were not disclosed.
Press release (pdf)