Pret A Manger sold to owner of Panera and Krispy Kreme

Pret A Manger chief executive Clive Schlee said it was `a day of celebration

Luxembourg-based JAB Holdings is set to buy British sandwich chain Pret A Manger for 1.5 billion pounds ($2.0 billion), including debt, from its private equity owners, the Financial Times reported late on Monday. The transaction is expected to be completed during the Summer 2018.

To view the full article, register now. The company has controlling stakes in Keurig Green Mountain, Jacobs Douwe Egberts, Panera Bread, Peets Coffee & Tea, Einstein Noah Restaurant Group, Krispy Kreme Doughnuts and Espresso House, a Scandinavian concept.

CEO Clive Schlee called the JAB announcement a "day of celebration at Pret", recognizing the hard work of its teams throughout the world.

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. "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".

Angus Grierson, managing director at LGB Corporate Finance, commented: "The sale of Pret a Manger to JAB is a significant win for private over public markets".

The purchase of a majority stake in Pret, a foodservice chain present in the UK, France, Hong Kong, China and the USA is the latest to be made by JAB, which handles the fortune of Germany's Reimann family.

'I'm alive' - Russian journalist faked death to foil assassination plot
Gritsak, the security service chief, ended his remarks Wednesday congratulating Babchenko on his "third birthday". Hrytsak said the Russian security services were behind the plot and that his agents had apprehended the organizer.


USA storm Alberto makes landfall as Florida braces for rain
It is expected to dump up to 6 inches (15 cm) of rain as it moves northward to lower MI by Wednesday evening, officials said. Alabama Power Co. said about 20,000 homes and businesses were without electricity Tuesday , most in the Birmingham area.


Uncertainty about ceasefire abounds as Gaza-Israel border maintains quiet
The clashes came after hundreds of Palestinians have been killed by Israeli troops during weeks of protests on the Gaza border. Israeli cabinet minister Naftali Bennett, however, told Israel's Army Radio no agreement has been reached yet.


"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". JAB believes in Pret's values and supports our growth plans.

Privately held JAB Holding Co.

"We're very excited to partner with Pret and its talented team to continue their extraordinary growth story".

He added: "JAB's purchase of Pret will allow the firm to capitalise on the brand's continued evolution of one-dimensional offerings to more artisanal, innovative new products that respond to consumer desires for freshly prepared food and drink".

It booked revenues of £879 million a year ago.

JAB also owns or has majority stakes in United States coffee chains Peet's Coffee and Tea and Caribou Coffee, as well as U.S. coffee and bagel purveyor Einstein Noah, plus doughnut and USA coffee chain Krispy Kreme.

Related News:

  • Roseanne Barr blames Ambien: ‘I’m not a racist, just an idiot’

    Roseanne Barr blames Ambien: ‘I’m not a racist, just an idiot’

    Trump wrote that CEO Bob Iger never call him to apologize for "the terrible statements " that have been said about him on ABC". And after blaming the sleep medication for the Twitter rant, Barr also turned to a surprising target - her " Roseanne " team.
    China has accused the United States  of violating its sovereignty

    China has accused the United States of violating its sovereignty

    China's defense ministry has also accused Washington of encroaching on Beijing's territory by sailing past the islands. But Beijing's position overlaps competing territorial claims from the Philippines, Vietnam and Taiwan, among others.
    Seminoles win ACC baseball tournament championship in extra innings

    Seminoles win ACC baseball tournament championship in extra innings

    Florida State (43-17) remains a thorn in Louisville's side, bouncing them from the ACC tourney for the second straight year. Hosting a regional or super regional gives a college baseball team nearly a 70 percent chance of advancing, per the NCAA.
  • New Zealand prepares to slaughter 15000 cows in disease cull

    New Zealand prepares to slaughter 15000 cows in disease cull

    The main aim of this culling project is to protect the New Zealand economy, with milk being the countries single largest export. It is unclear whether she made any mention of the 150,000 cows set to die as part of the eradication attempt.
    Apple's iOS 11.4 could finally make the HomePod worth buying

    Apple's iOS 11.4 could finally make the HomePod worth buying

    Apple TV , and Apple Watch owners are now able to download and install tvOS 11 .4 and watchOS 4.3.1 with immediate effect. It allows all Messages sent and received in Apple's messaging apps to be synced to all devices synced to that account .
    Messi hat-trick inspires Argentina in rout

    Messi hat-trick inspires Argentina in rout

    A makeshift and inexperienced Scotland side were beaten but not disgraced in their 2-0 loss to World Cup-bound Peru at the frenzied Estadio Nacional in Lima.
  • Abe, Trump to meet before US-N.Korea summit

    Abe, Trump to meet before US-N.Korea summit

    You know, there hasn't been much in the way of diplomacy - open diplomacy between North Korea and the United States for some time. Those include two deadly attacks in 2010 that killed 50 South Koreans and an alleged 2014 cyberattack on Sony Pictures.
    Pres. Trump Welcomes US Citizen Jailed In Venezuela To White House

    Pres. Trump Welcomes US Citizen Jailed In Venezuela To White House

    The Miami Herald reported that Holt had been among those inside the Helicoide prison during a rebellion against guards last week. The White House action would complicate Venezuela's efforts to sell off financial IOUs known as "accounts receivable".
    Serena aside, Sharapova will fear no one at French - Evert

    Serena aside, Sharapova will fear no one at French - Evert

    While she was No. 1 when she left the tour to give birth, Williams is now ranked No. 453. "She has a shot for sure", said Evert. She gave birth to her baby girl, Alexis Olympia , last September and had a health scare right after that as well.
  • Jones says Trump affected anthem policy

    Jones says Trump affected anthem policy

    Those deposed were required to turn over phone and email records related to Kaepernick, who has not played since the 2016 season. Miami Dolphins owner Stephen Ross said Trump's statement "changed the dialogue".
    Bethesda Tease Fallout 76

    Bethesda Tease Fallout 76

    According to the Fallout Wiki, Vault 76 was a "control" vault that was set to open just 20 years after the end of a nuclear war. However, the vault is completely empty besides showing one character, a single vault dweller, donning a blue Vault 76 suit.
    US, North Korea enter second day of nuclear talks

    US, North Korea enter second day of nuclear talks

    The United States wants North Korea to agree to "complete, verifiable and irreversible denuclearization" of the Korean peninsula. Working-level parties from both North Korea and the United States are in the island state, looking into venues and logistics.


Most liked

Mexico will pay for the border wall
Donald Trump renews an old campaign promise to make Mexico pay for a border wall at a Nashville rally. The. "Sincerely, Mexico (all of us)", Pena Nieto wrote in English.

Zinedine Zidane abruptly resigns as Real Madrid manager
The three-time Champions League-winning boss announced his decision at an impromptu press conference at 12 noon BST on Thursday. Barcelona, historically Real's greatest rivals, ran away with La Liga this season and finished 17 points clear of Zidane's side.

After-effect of Ranbir Kapoor's Sanju trailer: Sanjay Dutt flooded with multiple calls
The buzz around the film on Dutt's life soared to new heights when the filmmaker roped in Ranbir to fill in the former's shoes. After watching the trailer of " Sanju ", it's hard to say what hits you the most. " Sanju " will hit the screens on June 29.

'I Wish I Did' Pick A Different Attorney General Than Sessions
Rosenstein has also weathered multiple attacks on his reputation and the integrity of Mueller's investigation. Mueller is leading the probe into potential collusion between the Trump campaign and Russian Federation .

Melania Trump tweets 20 days after last public appearance
She's looking at us, right there", the president reportedly said, pointing to a window. 'There's no guidebook to being first lady. Media outlets like CNN and Newsweek are fueling that speculation with reports about her absence from the public eye.

Trade war: ‘Europe United’ as European Union and Mexico respond to U.S. tariffs
White House spokesman Raj Shah told Fox News: "The president's actions are about protecting American steel , American aluminum". US President Donald Trump promised to impose tariffs, claiming trade across the Atlantic was a one-way street.

Manchester United nearing deal for Porto full-back Diogo Dalot
Mourinho is said to be keen to bring the teenage defender to challenge Antonio Valencia , who is now first-choice at right-back. Dalot actually played in England last season when Porto faced Liverpool in their Champions League last-16 second-leg.

Liverpool Reportedly Want Nabil Fekir and Thomas Lemar After Fabinho Transfer
Can has not played for the Reds since March because of a back injury and was left out of Germany's preliminary World Cup squad . He has started at least 33 Ligue 1 games in all of the last four seasons, scoring 23 league goals in that time .

Tesla sedan in autopilot crashes into parked police vehicle
The officer in charge of the cruiser at the time of the crash was not inside the vehicle and thus avoided being injured. In Greece, a Tesla Model 3 crashed after the autopilot caused the auto to suddenly veer right "without warning".

Washington Capitals' Tom Wilson defends hit on Vegas Golden Knights' Jonathan Marchessault
Wilson is already considered a repeat offender; he was forced to sit out two preseason games following a late hit on St. Down a goal early in the third period, Reaves and Nosek scored to give the Golden Knights the lead for good.

Three takeaways from the Warriors' Game 7 comeback win over the Rockets
Warriors coach Steve Kerr informed reporters of Iguodala's absence in the series finale on Monday during shootaround. We've got to execute it. "All those hurdles and obstacles, we got over them, so it's an unbelievable feeling".

Russia’s Abramovich obtains Israeli citizenship to become Israel’s wealthiest man
The Interior Ministry confirmed only that he had entered the country, saying citizenship applications were a private matter. The poisonings prompted more than 20 countries to expel more than 100 Russian diplomats and intelligence officers.

Kim summit: President Moon could attend, says South Korea
Among those in North Korea on behalf of the US was Sung Kim, the veteran diplomat and current USA ambassador to the Philippines. Moon said North Korea and the United States will soon start working-level talks to prepare for the Kim-Trump summit.

Andre Iguodala Ruled Out For Game 7
Whatever happened to EG3 in the second half, he was lights out in the first, hitting threes and getting to the basket. As of Monday morning, 67 percent of public bets are being placed on visiting Golden State.

Harvey Weinstein Surrenders To Authorities On Sexual Assault Charges
Weinstein voluntarily surrendered after conditions of bail were negotiated". Weinstein was arraigned in Manhattan Criminal Court. "Mr.