Pret A Manger to be sold to investment firm JAB for reported £1.5b

"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."

 

Commenting on the reward set to be received by the company's 1,200 staff he explained: "The £1,000 bonus will be paid to all employees who are on the payroll during the week the deal completes. It's serendipity for those who have just joined."

 

Olivier Goudet, JAB partner and CEO, said: "We're very excited to partner with Pret and its talented team to continue their extraordinary growth story. Management's proven track record and commitment to customer service, investment in innovation and approach to freshly prepared food position Pret well as it capitalises on evolving consumer taste and lifestyle preferences. We look forward to working with Clive Schlee and his management team, while promoting the Pret brand and supporting Pret's impressive culture for the next phase in the company's growth with JAB."

 

JAB already owns businesses including Kenco, Douwe Egberts and Krispy Kreme.

 

Pret A Manger opened its first site in London's Hampstead in 1984. Pret saw sales grow 15% to £776.2m, driven by sales in dairy- and gluten-free ranges, in its last set of financial results.

 

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