LONDON — Global investment firm JAB Holding Co. has reached an agreement to acquire Pret A Manger from Bridgepoint, another international investment firm. Financial terms were not disclosed.
Founded in 1986 in London, Pret’s operates 530 stores worldwide, including 92 in the United States, and has sales of approximately €879 million ($1,015 million). Pret’s offers sandwiches, salads and wraps that are prepared daily in the company’s shop kitchens. At the end of each day, Pret offers its unsold food to charity. In 2017, the company said it gave away 3.4 million food items.
“This agreement recognizes the hard work of all our amazing teams around the world,” said Clive Schlee, chief executive officer 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.
“I am also pleased to say that 2017 was another year of solid results for Pret, and we achieved our ninth consecutive year of like-for-like sales growth. The brand continues to thrive around the world thanks to our simple recipe of freshly prepared food, served by genuinely engaged teams.”
JAB Holding Company and JAB Consumer Fund have controlling stakes in Keurig Green Mountain, Jacobs Douwe Egberts, Panera Bread, Peet’s Coffee & Tea, Caribou Coffee Co., Einstein Noah Restaurant Group, Inc., Krispy Kreme Doughnuts, and Espresso House. JAB also holds a minority stake in Reckitt Benckiser PLC.`