Ready-to-eat food market company, Pret A Manger (Pret), has announced that JAB Holding Company will acquire ownership from Bridgepoint.
The transaction is expected to be completed during the summer of 2018, and terms of the transaction have not been disclosed.
Pret maintains a presence in the U.K. and has a growing international footprint with a presence in the United States, Hong Kong/China and France.
The company operates 530 stores worldwide, generating group revenues of £879 million.
Both JAB Holding Company and JAB Consumer Fund are overseen by its three Senior Partners: Peter Harf, Bart Becht (Chairman) and Olivier Goudet (CEO).
Goudet commented: “We’re very excited to partner with Pret and its talented team to continue their extraordinary growth story.
“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.”
Clive Schlee, CEO of Pret A Manger, said: “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.”
It has also been announced that staff will receive a £1,000 bonus once the sale of the firm is completed.
Scheele commented: “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.”