KXIP vs KKR Live Score

Today, CNBC reports that the whole operation will now come under control of JAB Holdings, a Luxembourg-based company owned by Germany's Reimann family, which has chose to purchase the chain from private-equity firm Bridgepoint for a reported $2 billion.

That means each worker will receive more than $1,300.

"As we welcome JAB, we'll be thanking the people who really matter by giving each of our 12,000 employees £1,000 when the deal completes", Pret A Manger CEO Clive Schlee tweeted on Tuesday. 'It's serendipity for those who have just joined, ' he added.

Pret - which opened its first outlet in London in 1986 - has 530 stores worldwide and is rapidly expanding globally in countries such as the US, China and France. It spent roughly $7.5 billion to acquire Panera in 2017.

Pret a Manger sells organic coffee and sandwiches and salads made fresh daily in its stores, letting JAB tap into the growing consumer demand for lighter, healthier fare.

William Jackson, chairman of Pret and managing partner of Bridgepoint, said that "Pret has a unique culture and is a great British success story".

JAB bought Panera previous year for more than $7 billion.

Bridgepoint bought the chain at the height of the buyout boom in 2008 for €500m.

Pret chief executive Clive Schlee said: "This is a day of celebration at Pret". Last year, Bridgepoint reportedly considered taking Pret to the stock markets through an initial public offering - but ultimately made a decision to sell the company outright.

"All of us at Pret believe JAB will be excellent long-term strategic owners". JAB also has controlling stakes in Krispy Kreme Doughnuts, Keurig Green Mountain, Peet's Coffee & Tea, Caribou Coffee Co.


COMMENTS