Tue, 19 Sep 2017 | BUSINESS SALE
British sandwich chain Pret A Manger is mulling over a sale to a Filipino food group, with the group being valued at more than $1 billion (£740 million).
The proposed deal would be one of the biggest ever executed by a company from the Philippines.
Jollibee Food Corp, which runs 2,700 fast food outlets throughout the Philippines and is often referred to as the country’s equivalent of McDonald’s, is said to be considering an acquisition of the British firm to expand its global influence.
According to reports, Jollibee has been holding private talks with an advisor over a deal for Pret, though both companies have declined to comment.
The Filipino chain is known for its locally-influenced menu of fast food classics, including fried chicken and “sweet-style” spaghetti.
In 2015 Jollibee acquired a 40 per cent stake in American burger chain Smashburger in a deal reported to be worth $100 million. The company has been expanding throughout Southeast Asia, too, and has a market value of over $5 billion at the time of writing.
Pret has built a reputation for selling organic coffee and sandwiches to office workers around 400 locations in the UK, as well as recent forays into cities abroad including Hong Kong and New York.
Last year Pret made £776 million in revenues - a yearly increase of 15 per cent - and opened 50 new retail locations.
It was reported in May that the food chain’s private equity owner, Bridgepoint, is considering offering stock to the public via the New York Stock Exchange.
Find a business to buy here
Subscribe to Business Sale Report here
This established company offers reliable and efficient roofing services primarily to local authorities in Scotland, boasting strong long-term client relationships and a reputable standing. With an experienced team and consistent high-value contracts,...
This unique opportunity presents a well-established company operating five care homes and a specialised school for children with complex needs, demonstrating a proven track record of steady business with local authorities. With an experienced managem...
LEASEHOLD
This bespoke signage company has a national client base ranging from high-street retailers to blue-chip financial institutions, supported by long-standing relationships and reliable repeat revenue streams. The business operates from large, well-equip...
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.