News

JAB acquires Pret a Manger

May 29, 2018

JAB, the global investment firm that purchased Panera Bread in 2017, is adding the UK's Pret A Manger to its portfolio. Pret, which has a strong presence in the U.K., is growing its international footprint with a presence in the United States, Hong Kong/China and France, according to a company press release. It has 530 stores worldwide, generating group revenues of £879 million.     

"This is a day of celebration at Pret," Clive Schlee, CEO of Pret A Manger, said in a company press release. "This agreement recognizes the hard work of all our amazing teams around the world. 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."  

William Jackson, Chairman of Pret and managing partner of Bridgepoint, the company selling Pret, said he is proud of what the team has achieved over the last 10 years with Pret and its management team.

"This has been a successful investment for Bridgepoint and illustrates how private equity, investing for the long term and working with talented management can deliver strong growth for the benefit of all stakeholders:  customers, employees and suppliers and create real value for the wider economy. I wish Pret and its team continued success for the future," he said.  

JAB is acquiring its stake in Pret through an investment vehicle of JAB Consumer Fund and JAB  Holding Company. 

Pret A Manger opened in London in 1986. Pret's sandwiches, salads and wraps are freshly made each day in shop kitchens using quality ingredients.