Sun, 29 Apr 2018 | BUSINESS SALE
Private equity firm Bridgepoint has agreed to sell sandwich shop chain Pret a Manger to JAB Holdings in a deal worth some GBP1.5bn.
Bridgepoint originally paid just GBP364m for the chain, which has rapidly expanded in recent years adding 50 new outlets in the past 12 months alone.
The GBP1.5bn deal to sell the popular chain to JAB Holdings is an alternative plan to Bridgepoint’s initial strategy of floating Pret a Manger on the New York Stock Exchange to try to help break further into the US market. However, it decided that a better price could be obtained through a direct sale.
There are currently some 500 Pret stores in the UK and there are also outlets in the US, Dubai and China.
The plan to sell the chain has resulted in a valuation of around 15 times earnings before interest, tax, depreciation and amortisation. The deal is just the latest in a string of similar purchases for JAB Holdings, which is a Luxembourg-based investment vehicle owned by Germany’s Reimann family. It already owns the Kenco, Douwe Egberts and Tassimo brands and the Krispy Kreme chain on doughnut and coffee shops.
JAB’s Olivier Goudet, it’s Chief Executive, said that the management at Pret a Manger has a proven track record and that, as its new owner, JAB intends to invest in new products to reflect changing consumer tastes. He stated: “We’re very excited to partner with Pret and its talented team to continue their extraordinary growth story.”
In 2016, Pret a Manger recorded record sales of GBP776m, up 15 per cent from 2015. As a result of this sales increased EBITDA increased by 11 per cent to GBP93.2m.
This well-established facilities management business in London, specialising in cleaning, maintenance, and security services, offers a unique opportunity with multi-year service agreements ensuring predictable recurring income. This opportunity prese...
This thriving value added meat company, prominently featured in major retailers like Tesco and Sainsbury's, boasts impressive growth with sales projected to more than double by 2026. The business has shown remarkable growth and we are poised to incre...
This London-based health and beauty dropshipping store presents a remarkable opportunity with its fully responsive website, a strong emphasis on eco-friendly products, and a mission to protect bees, setting it apart in the market. The sale of the bus...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.