Pret A Manger's owner Bridgepoint Capital has confirmed that the sandwich chain will be sold to global investment firm JAB for a reported £1.5b.
The purchase of the chain, which has 530 stores worldwide generating revenue of £879m, is expected to be completed this summer - with all staff set to receive a £1,000 bonus on its completion.
Clive Schlee, CEO of Pret A Manger, commented: "This is a day of celebration at Pret. This agreement recognises 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.