Market Updates
Pret A Manger Sells for
123jump.com Staff
22 Feb, 2008
New York City
-
Sandwich chain operator, after putting it up for a sale one year ago was sold for
7:00PM London - Pret A Manger agrees to sell majority stake to sell for £345 million.
Bridgepoint Capital Ltd agreed to pay £345 million or $675 million for the purchase of U.K. based sandwich chain. The food outlet company operates locations in London, New York, Hong Kong, and Singapore.
The press release form Bridgepoint Capital added that under the terms of the transaction, the founders and management, including Sinclair Beecham and Julian Metcalfe, will make a significant re-investment in the business.
McDonald''s, which acquired a 33% share in the company in 2001, will no longer be part of the business. Goldman Sachs, advisor to the deal, will take a minority stake in the company.
Founded in 1986, Pret A Manger has 200 shops (175 in the UK, 14 in the US, 11 in Hong Kong), employs almost 4,000 people and had sales in 2007 of £223 million (£194 million in 2006).
Sandwich chain expects to open at least 30 new locations in 2008, including seven in New York. Future roll-out will target London and the South East, UK regions and the US. UK sandwich shop market is estimated to be of £4.3 billion.
The company aims to expand its real estate footage by 15% in terms of unit numbers per year.
Annual Returns
| Company | Ticker | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|
Earnings
| Company | Ticker | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|