Deals
JAB's Coffee-and-Food Empire Goes Global With Pret A Manger Deal
- Investment firm to pay $2 billion including net debt
- JAB, backed by Reimann family, also owns Caribou, Au Bon Pain
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With its acquisition of Pret A Manger, JAB Holding Co. is taking a quintessentially British institution -- the sandwich -- on a global expansion drive, adding the brand to its stable of restaurant chains that include Panera Bread Co. and Krispy Kreme Doughnuts.
JAB, the Luxembourg investment company backed by the billionaire Reimann family, agreed to buy U.K.-based Pret from private equity firm Bridgepoint Advisers Ltd., the parties said in a statement Tuesday, without disclosing terms. The price is about 1.5 billion pounds ($2 billion), including net debt, according to a person familiar with the matter.