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Luxembourg-based conglomerate JAB Holding Co. will buy a controlling stake in U.K. sandwich chain Pret A Manger from investment firm Bridgepoint Advisers for nearly $2 billion, including the assumption of debt, reports The New York Times.
Pret A Manger operates at 530 locations around the world, including in France, the Netherlands, the U.S., China and Singapore. The chain posted some $1.2 billion in sales last year.
JAB owns Caribou Coffee, Krispy Kreme, Panera and Peet’s Coffee. The firm also holds stakes in fashion label Bally, cosmetics maker Coty and household-goods giant Reckitt Benckiser.
By Brannon Boswell
Executive Editor, Commerce + Communities Today
