May 29, 2018
Pret a Manger staff to get £1,000 bonus after takeover
All 12,000 staff employed by sandwich and coffee chain Pret A Manger will receive a £1,000 bonus once the sale of the firm is completed. The two firms did not say how much JAB was paying, although one report put the value of the deal at £1.5bn. Pret a Manger opened its first store in London in 1986 and Bridgepoint bought the chain in 2008 for about £350m. As well as its strong presence on the UK High Street the chain has expanded into the US, Hong Kong, China and France. Pret operates 530 stores worldwide, generating group revenues of £879m. Its sale is expected to be completed this summer. William Jackson, chairman of Pret and managing partner of Bridgepoint, said: "We're proud of what we've achieved over the last 10 years with Pret and its management team." Last year, it was reported that Philippine fast food chain Jollibee was about to make a bid for Pret, but no offer emerged.
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