Sandwich formula Pret a Manger is now part of JAB, which also owns Douwe Egberts and Krispy Kreme. The company paid 1.7 billion euro for the chain and targets international growth.
Increased speed of international expansion
Private investment group Bridgepoint sold Pret a Manger, the British sandwich chain with some 530 stores worldwide, to JAB Holdings. The latter is owned by German family Reimann, the richest family in the country, which has invested heavily in coffee and coffee-related activities in the past few years. It acquired coffee brands Douwe Egberts, Kenco and Tassimo, alongside donut chain Krispy Kreme.
“We are very thrilled to work with Pret and its talented team to continue its extraordinary story of growth”, JAB Ceo, Olivier Goudet, said. The chain is mainly located in airports and stations, but increased its expansion recently. It opened 50 stores in the past year alone.
Pret a Manger also aims for growth in the United States, which is why it considered a New York IPO prior to the acquisition. The chain currently generates about 1 billion euro in turnover.