May 16, 2019
Pret a Manger 'to buy Eat' in vegetarian push
Pret a Manger is reportedly planning to buy rival Eat and turn the chain's 94 stores into vegetarian outlets. Pret, which has 400 stores in the UK, has four branded as "Veggie Pret" and is aiming to jump on the trend for vegetarian and vegan foods. The Evening Standard reported that talks between the two chains were understood to be at an advanced stage, with Pret in line to buy the majority of Eat's 94 shops or the whole business. Pret a Manger was sold by Bridgepoint to Luxembourg-based JAB Holdings last year and as result all 12,000 staff employed at Pret received a £1,000 bonus. In April, Eat reported a pre-tax loss of £17.2m in the year to end of June 2018, but said that it had since experienced 11 consecutive months of like-for-like sales growth.
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