FDBusiness.com

JAB to Acquire Majority Stake in Pret A Manger

 Breaking News
  • Mars Wrigley Confectionery Names New Global President Mars, Incorporated has appointed Andrew Clarke, currently Chief Marketing & Customer Officer, to the role of Global President ‐ Mars Wrigley Confectionery. Andrew Clarke will assume his new role in September. He will be based at Mars Wrigley Confectionery’s global headquarters in Chicago, Illinois. Andrew Clarke. Since 2015 Andrew Clarke has been Chief Marketing & Customer Officer. [...]...
  • More Milk Needed to Cover Demand in 2030 – New Technologies Will Help Between now and 2030 worldwide demand growth for milk and milk products will be three times the level of current US milk production. This was one of the main findings of the latest publication, from the IFCN – the Dairy Research Network – discussed at the 19th IFCN Dairy Conference, held at Teagasc, Moorepark, Cork [...]...
  • Danone Early Life Nutrition Launches Category Overhaul Danone Early Life Nutrition is launching a category refresh that spans its leading baby food brands, Cow & Gate and Aptamil. Cow & Gate is launching fifteen new food recipes across the pouch, cereal, jar and tray product ranges, as well as a complete packaging re-brand across its entire formula milk and food portfolio. Starting from mid-June, [...]...
  • Speed Up Poultry Processing – 15,000 bph With Meyn Rising consumer demand for high-protein food and changing customer preferences have spurred the global market for poultry meat. In response to this growing demand, the market has been forced to increase production volumes. This results in longer production days and increased line speeds. Especially greenfield projects, but also existing plants demand the highest possible processing [...]...
  • Mondelēz International Invests $200 Million in Czech Biscuit Plant to Accelerate Growth in Europe Mondelēz International has invested $200 million since 2014 in its Czech Republic-based Opava biscuit manufacturing facility, which employs nearly 1,000 people and produces Power Brands like Oreo, belVita, Milka and Cadbury, for the European market. The investment builds on Opava’s proud heritage of more than a century as a biscuit-making centre and supports the company’s [...]...

JAB to Acquire Majority Stake in Pret A Manger

JAB to Acquire Majority Stake in Pret A Manger
May 30
12:08 2018

JAB, a global investment firm with a proven track record of investing in premium brands, is acquiring Pret A Manger, a leading company in the ready‐to‐eat food market, from Bridgepoint, an international private equity firm and its majority owner, and other minority shareholders. The transaction is expected to be completed during the Summer 2018. Terms of the transaction were not disclosed.

Pret maintains a strong presence in the UK and boasts a rapidly growing international footprint with a presence in the United States, Hong Kong/China and France. Pret’s sandwiches, salads and wraps are freshly made each day in shop kitchens using quality ingredients. Pret’s offering includes an array of vegetarian or vegan sandwiches and salads, as customer demand for meatfree options continues to increase. The company operates 530 stores worldwide, generating group revenues of £879 million.

Clive Schlee, chief executive of Pret A Manger, comments: “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.”

He adds: “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.”

Olivier Goudet, JAB partner and chief executive, says: “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.”

William Jackson, chairman of Pret and managing partner of Bridgepoint, adds: “Pret has a unique culture and is a great British success story. We’re proud of what we’ve achieved over the last 10 years with Pret and its management team. This has been a successful investment for Bridgepoint and illustrates how private equity, investing for the long term and working with talented management can deliver strong growth for the benefit of all stakeholders: customers, employees and suppliers and create real value for the wider economy. I wish Pret and its team continued success for the future.”

Together, JAB Holding Company and JAB Consumer Fund have controlling stakes in Keurig Green Mountain, a leader in the North‐American beverage market; Jacobs Douwe Egberts (JDE), the largest pure‐play FMCG coffee company in the world; Panera Bread, a leading bakery/cafe company; Peet’s Coffee & Tea, a premier specialty coffee and tea company; Caribou Coffee Company, a specialty retailer of high‐quality premium coffee products; Einstein Noah Restaurant Group, the leader in the North‐American Bagel Category; Krispy Kreme Doughnuts, a global leader in doughnuts and other premium‐quality sweet treats; and in Espresso House, the largest branded coffee shop chain in Scandinavia.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • June 17, 2018The Excellence of Italian Food and Wine (Bellavita Expo)
  • June 25, 2018Packaged., The 7th Global Summit
  • September 5, 2018Int'l Food Products and Processing Technologies Exhibition (WorldFood Istanbul)
  • September 15, 2018iba
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements