Investment firm Bridgepoint to exit Pret A Manger in £1.5bn deal

Sandwich shop chain Pret A Manger is on the cusp of being sold for eight figures.

Investment group JAB Holdings will acquire the London-headquartered company for £1.5bn, according to the Financial Times.

Private equity house Bridgepoint, which acquired Pret a decade ago for £364m, said the purchase price is inclusive of debt.

Bridgepoint initially explored listing Pret on the stock exchange, the FT reported, but thought a higher sum could be raised through a sale.

Other investors expressed an interest in buying Pret, including BC Partners and Carlyle.

Pret was established with a single store in the capital in 1986. Today, the company has around 500 shops worldwide, including 92 in the US.

The firm’s revenue stood at £776m in 2016, up 15% on the year previous.