Pret A Manger explores potential IPO

Pret A Manger owner JAB Holding is working with advisors on plans to bring in new investment to the business, including the potential of an potential initial public offering (IPO).

JAB Holding acquired Pret A Manger for £1.5b in 2018 and is now looking at options of a listing and a stake sale, according to reports in the Financial Times.

A source told the paper: “As we move closer to a potential IPO, we may evaluate bringing on a pre-IPO investor.”

Last month José Cil, the former chief executive of fast-food company Restaurant Brands International (RBI), was named chairman at Pret. He was previously in charge of brands such as Burger King, Tim Hortons, Popeyes and Firehouse Subs, and supported the growth of RBI to achieve more than £30b in sales.

Cil took over from Konrad Meyer, who will continue as a director of Pret A Manger.

Meyer was involved in the acquisition of Pret A Manger by global investment firm JAB in 2018 and has been on the board of Pret since then, having also served as interim chief financial officer in 2020.

Over the past five years, the sandwich giant has broadened its global footprint to 21 countries, meaning a quarter of its sales now come from outside the UK.

Pret A Manger opened its first shop in London in 1986 and has since grown to 700 shops worldwide, in markets ranging from Hong Kong to Qatar.

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