Pret A Manger being sold to Krispy Kreme

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Pret A Manger – the UK-based sandwich store chain – is to be offered to the German-controlled business behind Krispy Kreme doughnuts for ₤ 1.5 bn.

Personal equity company Bridgepoint has actually consented to offer a bulk stake in Pret to JAB Holdings, the financial investment automobile of Germany’s rich Reimann family.

Bridgepoint, which purchased Pret for ₤ 364m a years back, had actually been considering listing the company in New York.

Pret chief executive Clive Schlee stated: “This is a day of event at Pret.

” This agreement acknowledges the effort of all our remarkable teams around the world. Bridgepoint has actually been terrific owners of business for more than a decade.

” All of us at Pret think JAB will be outstanding long-lasting tactical owners. JAB thinks in Pret’s worths and supports our growth strategies.”

Olivier Goudet, JAB partner and chief executive, said: “We’re really thrilled to partner with Pret and its talented team to continue their amazing development story.

” Management’s tested performance history and dedication to customer care, investment in development and technique to newly prepared food position Pret well as it capitalises on progressing customer taste and way of life choices.

” We eagerly anticipate 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 business’s growth with JAB.”

Pret – which opened its very first outlet in London in 1986 – has 530 shops worldwide and is quickly expanding internationally in countries such as the United States, China and France.

It created profits of ₤ 879m in 2015.

Luxembourg-based JAB is also behind Kenco coffee and Dr Pepper.

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