Business Wire

JAB to Acquire Majority Stake in Pret A Manger

Jaa

Pret A Manger (“Pret”), a leading company in the ready-to-eat food market, and JAB, a global investment firm with a proven track record of investing in premium brands, today announced that JAB will acquire Pret from Bridgepoint, an international private equity firm and its majority owner, and other minority shareholders. The transaction is expected to be completed during the Summer 2018. Terms of the transaction were not disclosed.

Pret maintains a strong presence in the U.K. and boasts a rapidly growing international footprint with a presence in the United States, Hong Kong/China and France. Pret’s sandwiches, salads and wraps are freshly made each day in shop kitchens using quality ingredients. Pret’s offering includes an array of vegetarian or vegan sandwiches and salads, as customer demand for meat-free options continues to increase. The company operates 530 stores worldwide, generating group revenues of £879 million.

Clive Schlee, CEO of Pret A Manger, commented:

“This is a day of celebration at Pret. This agreement recognises the hard work of all our amazing teams around the world. Bridgepoint has been wonderful owners of the business for more than a decade. All of us at Pret believe JAB will be excellent long-term strategic owners. JAB believes in Pret’s values and supports our growth plans. I am really looking forward to this next chapter of Pret’s story.

“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. The brand continues to thrive around the world thanks to our simple recipe of freshly prepared food, served by genuinely engaged teams.”

Olivier Goudet, JAB Partner and CEO, said:

“We’re very excited to partner with Pret and its talented team to continue their extraordinary growth story. Management’s proven track record and commitment to customer service, investment in innovation and approach to freshly prepared food position Pret well as it capitalises on evolving consumer taste and lifestyle preferences. We look forward to working with Clive Schlee and his management team, while promoting the Pret brand and supporting Pret’s impressive culture for the next phase in the company’s growth with JAB.”

William Jackson, Chairman of Pret and Managing Partner of Bridgepoint, added:

“Pret has a unique culture and is a great British success story. We’re proud of what we’ve achieved over the last 10 years with Pret and its management team. This has been a successful investment for Bridgepoint and illustrates how private equity, investing for the long term and working with talented management can deliver strong growth for the benefit of all stakeholders: customers, employees and suppliers and create real value for the wider economy. I wish Pret and its team continued success for the future.”

JAB is acquiring its stake in Pret through an investment vehicle of JAB Consumer Fund and JAB Holding Company. JAB Consumer Fund is backed by a group of like-minded, long-term oriented investors and, together with JAB Holding Company, invests in companies with premium brands, attractive growth and strong margin dynamics in the Consumer Goods category.

About Pret A Manger

Pret A Manger opened in London in 1986. Pret’s sandwiches, salads and wraps are freshly made each day in shop kitchens using quality ingredients. The food doesn’t have a ‘sell-by’ date; Pret offers unsold food to charity at the end of the day, including 3.4 million food items in 2017. Pret currently has 530 shops; 381 in the UK, 92 in the US, 26 in Hong Kong, 24 in France, 2 in China, 2 in Dubai, 2 in Denmark, 1 in Singapore and 1 in the Netherlands. Pret’s fresh, healthy menu serves more than 300,000 customers every day.

About JAB Holding Company

JAB Holding Company and JAB Consumer Fund invest in companies with premium brands, attractive growth and strong margin dynamics in the Consumer Goods category. Both JAB Holding Company and JAB Consumer Fund are overseen by its three Senior Partners: Peter Harf, Bart Becht (Chairman) and Olivier Goudet (CEO).

Together, JAB Holding Company and JAB Consumer Fund have controlling stakes in Keurig Green Mountain, a challenger & leader in the North-American beverage market, Jacobs Douwe Egberts (JDE), the largest pure-play FMCG coffee company in the world, Panera Bread, a leading bakery-cafe company, Peet's Coffee & Tea, a premier specialty coffee and tea company, Caribou Coffee Company, a specialty retailer of high-quality premium coffee products, Einstein Noah Restaurant Group, Inc., the leader in the North-American Bagel Category, Krispy Kreme Doughnuts, a global leader in doughnuts and other premium-quality sweet treats, and in Espresso House, the largest branded coffee shop chain in Scandinavia.

JAB Holding Company is also the largest shareholder in Coty Inc., a global leader in beauty, and owns a controlling stake in luxury goods company Bally as well as a minority stake in Reckitt Benckiser PLC, a global leader in health, hygiene and home products. For more information, please visit the company's website at: http://www.jabholco.com.

About Bridgepoint

Bridgepoint is an international private equity firm. With €18 billion of assets under management and over €28 billion of capital raised to date, it typically focuses on acquiring well managed companies in attractive sectors helping companies and management teams by investing in expansion, operational transformation or via consolidating acquisitions.

The Firm operates three divisions:

1. – Bridgepoint Europe, which concentrates on middle market companies across Europe typically valued between €200 million and €1 billion. It has offices in Europe, China and the United States in Frankfurt, Istanbul, London, Luxembourg, Madrid, New York, Paris, Shanghai and Stockholm. It is currently investing a €4 billion fund, Bridgepoint Europe V.

2. Bridgepoint Development Capital, a separate ‘lower mid-cap’ or smaller buyout and growth capital business which focuses on the acquisition of companies in the UK, France and the Nordic region, typically valued between €50 million and €150 million. In 2016 it raised a new £600 million fund, BDC III.

3. Bridgepoint Growth makes earlier stage growth capital investments in fast-growth smaller businesses, typically valued up to £30 million, seeking equity investment between £5 million and £15 million. It has a focus on the consumer, media, technology and business services sectors and in particular on companies utilising digital technologies to achieve transformational growth in their end-markets.

For further information, see www.bridgepoint.eu

Contact information

Pret A Manger Contact:
Julie Carolan, +44 (0)7876 392 832
Julie.carolan@pret.com
or
JAB Holding Company Contacts:
Abernathy MacGregor
Tom Johnson/Pat Tucker, +1 212-371-5999
tbj@abmac.com/pct@abmac.com
or
Bridgepoint Contact:
James Murray, +44 (0)20 7034 3555
james.murray@bridgepoint.eu

Tietoja julkaisijasta

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Tilaa tiedotteet sähköpostiisi

Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.

Lue lisää julkaisijalta Business Wire

Mundipharma Announces Launch of INVOKANA® and VOKANAMET® in Norway for the Treatment of Type 2 Diabetes as Part of Exclusive Distribution Agreement with Janssen20.3.2019 11:05:00 EETTiedote

The Mundipharma network of independent associated companies is pleased to launch the type-2 diabetes mellitus (T2DM) treatments Invokana ® (canagliflozin) and Vokanamet ® (canagliflozin, metformin) in Norway. In line with the partnership with Janssen Pharmaceutica NV, Mundipharma now exclusively distributes and markets these treatments across 18 countries in the European Economic Area (EEA) and Switzerland. With the launch in Norway, Invokana and Vokanamet are now available across the whole of Scandinavia, following the launches in Sweden and Denmark. Invokana, a once-daily oral tablet, is part of the sodium glucose co-transporter 2 (SGLT2) inhibitor class and has been approved in the European Union since 2013.2 Vokanamet combines two oral glucose-lowering medicinal products (canagliflozin and metformin) with different and complementary mechanisms of action.3 “We are delighted to extend our European footprint for Invokana and Vokanamet to provide healthcare professionals in Norway with

OnMiners Mining Rigs Offering the Biggest Hash-Rate in the Market20.3.2019 10:00:00 EETTiedote

OnMiners S.A (http://www.onminers.com) is steadily emerging as a gamechanger in the rapidly evolving global cryptocurrency market. The company recently announced its arrival with three cryptocurrency mining rigs, each offering hash rates that are unheard of in the industry. The three products from OnMiners can be used for mining Bitcoin, Litecoin, Ethereum, Monero, Dash, and Zcash. The earliest customers of the company have already started making profits in less than one month. On2U: 140 TH/s, 38 GH/s, and 5 GH/s for Bitcoin, Litecoin, and Ethereum respectively. On4U: 270 TH/s, 75 GH/s, and 9 GH/s for Bitcoin, Litecoin, and Ethereum respectively. OnTower: 1620TH/s, 450 GH/s, and 54 GH/s for Bitcoin, Litecoin, and Ethereum respectively. Hash rate has a significant impact on the profitability of crypto mining, a process that involves finding blocks through complex computations. It can be defined as the speed at which a given mining machine operates. A higher has rate is extremely favoura

HKTDC Hong Kong Houseware Fair Opens in April20.3.2019 06:17:00 EETTiedote

Asia’s leading HKTDC Hong Kong Houseware Fair is welcoming its 34th edition in the Hong Kong Convention and Exhibition Centre from 20-23 April 2019. Some 2,200 global exhibitors will showcase a wide range of high-quality household items to global buyers. In 2018, over 29,500 buyers from 112 countries and regions visited the fair. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190319005980/en/ Asia's leading houseware fair. (Photo: Business Wire) WGSN to Curate the Latest Houseware Trends HKTDC is partnering with WGSN, a well-known trend forecasting agency, to curate the trend concept display areas, unveiling the Spring/Summer 2020 houseware trends with a variety of houseware and interior design products on display. “L.I.F.E.” Theme to Showcase Quality Products In order to create an easy-to-navigate setting and provide a superior sourcing experience, the Houseware Fair will continue to feature products under four main themes

New GSMA Study: China’s Mobile Ecosystem Equivalent To 5.5% Of China’s GDP20.3.2019 06:00:00 EETTiedote

China’s mobile ecosystem added RMB5.2 trillion ($750 billion) in value to the country’s economy last year, equivalent to 5.5 per cent of China’s GDP in 20181, according to a new GSMA report. The data features in the first ever China edition of the GSMA’s Mobile Economy report series, which is published today at a special roundtable event in Beijing to discuss the latest developments in the Chinese mobile industry as it enters the 5G era. “Our new report outlines how China’s mobile industry has been a key driver of economic growth, inclusion and modernisation – creating a new generation of digital consumers and transforming industry and society,” said Mats Granryd, Director General of the GSMA. “After spending billions over the last decade deploying 4G networks to all corners of the country, Chinese mobile operators are now set to invest a further RMB401 billion ($58 billion) over the next two years to prepare for and begin 5G rollouts, laying the groundwork for China to become one of t

Rimini Street CEO Visits Seoul, Addresses Changing IT Mission20.3.2019 02:00:00 EETTiedote

Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, is committed to helping South Korean companies reduce ongoing IT operating costs and freeing up significant IT budget to invest in innovation, competitive advantage and growth, co-founder and CEO Seth A. Ravin explained during a press conference in Seoul. Mr. Ravin also highlighted continued strong and growing demand in Korea for the Company’s award-winning, ultra-responsive enterprise software support model, which is disrupting the $160 billion enterprise software maintenance market worldwide. As the 4th largest economy in Asia, and the 11th largest in the world, South Korea represents a large market opportunity for the Company. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190319005832/en/ Rimini Street CEO Visits Seoul,

SOTIO’s DCVAC/OvCa Significantly Improves Survival in Patients with Recurrent Ovarian Cancer19.3.2019 23:00:00 EETTiedote

SOTIO, a biotechnology company owned by the PPF Group, presented results from SOV02, its Phase II clinical trial evaluating DCVAC/OvCa, an active cellular immunotherapy product, in patients with recurrent ovarian cancer at 2019 SGO’s 50 th Annual Meeting on Women's Cancer today. Final analysis of SOV02 shows that DCVAC/OvCa decreased the risk of death significantly compared to patients who did not receive DCVAC/OvCa. Clinical trial results were presented during today’s SGO 2019 Plenary Session by SOV02 principal investigator David Cibula, MD, PhD from General University Hospital in Prague (Czech Republic). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190319005837/en/ In the randomized, open label SOV02 clinical trial, patients with recurrent ovarian cancer received DCVAC/OvCa in combination with platinum-based chemotherapy. Compared to patients who did not receive DCVAC, it decreased the risk of death by 62%. The combinati

Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.

Tutustu uutishuoneeseemme