Latest news with #Cil
Yahoo
3 days ago
- Business
- Yahoo
JAB considers new investors for Pret ahead of potential IPO
UK-based sandwich and organic coffee chain Pret A Manger could be heading towards an initial public offering (IPO) as its owner, JAB Holding, evaluates the introduction of new investors. According to the Financial Times, the investment group is contemplating the sale of a minority stake in the business. However, JAB Holding claims to have clarified that it is not selling any shares currently in Pret but is open to the idea of a pre-IPO investor as it moves closer to a potential stock market flotation. The strategic move aligns with JAB's focus shift from consumer brands such as Pret to financial services, including asset management and insurance. In May 2018, Pret announced that JAB would acquire the chain from Bridgepoint, a private equity company and its majority owner, for an undisclosed sum. The chain saw a 10% increase in sales in the first half of 2024. Pret strengthened its leadership by appointing a new chairman, José Cil to its board of directors. Cil is a former CEO of Restaurant Brands International. In March 2025, the chain expanded its global presence by launching a dine-in location in Pune, India. In September 2024 it collaborated with YOOBIC, a digital workplace solutions provider, to support its frontline teams and facilitate further expansion. The chain previously commenced a trial with body-worn cameras in six London stores to enhance employee safety. Pret's inaugural shop was opened in 1986, and it has grown to more than 700 outlets globally, employing 12,500 team members across 21 worldwide markets. It is known for its handmade sandwiches, salads and wraps prepared daily in shop kitchens. "JAB considers new investors for Pret ahead of potential IPO" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
North Wales Chronicle
6 days ago
- Business
- North Wales Chronicle
Pret A Manger ‘considering stake sale ahead of possible flotation'
Luxembourg-based JAB Holding – which bought Pret for £1.5 billion in 2018 – told the Financial Times that while it was not 'currently' considering a stake sale in Pret, it could look at the move with an initial public offering (IPO) in its sights. 'As we move closer to a potential IPO, we may evaluate bringing on a pre-IPO investor,' it told the FT. It is thought to mark the first time Pret has publicly confirmed IPO plans for Pret. JAB – which also owns Krispy Kreme and Keurig Dr Pepper – announced last month it had hired hospitality industry stalwart Jose Cil as chairman of Pret's board. Mr Cil was most recently chief executive of Burger King owner Restaurant Brands International, which also owns chains including Popeyes. JAB has been contacted for comment. Pret recently announced it was dropping plans for a doubling of its current £5 monthly subscription for up to five coffees a day as it looks to retain customers against a difficult consumer spending backdrop. The group had previously told subscribers that their subscription would increase to £10 a month from March 31, when a '50% off' deal ended. It followed Pret overhauling its £360-a-year subscription in July last year in favour of 50% off up to five coffees a day for £10 a month. The chain also removed a 20% discount on food for subscribers to end dual pricing – 'something we never really got comfortable with', it said at the time. Under the old deal that lasted for almost four years, Club Pret membership offered up to five barista-made drinks daily for a monthly fee of £30. Pret is headed up by chief executive Pano Christou, who was promoted to the top job in 2019. The firm opened its first shop in London in 1986, where the company remains headquartered. It now has 700 shops worldwide with around 12,500 employees across 21 markets.
Rhyl Journal
6 days ago
- Business
- Rhyl Journal
Pret A Manger ‘considering stake sale ahead of possible flotation'
Luxembourg-based JAB Holding – which bought Pret for £1.5 billion in 2018 – told the Financial Times that while it was not 'currently' considering a stake sale in Pret, it could look at the move with an initial public offering (IPO) in its sights. 'As we move closer to a potential IPO, we may evaluate bringing on a pre-IPO investor,' it told the FT. It is thought to mark the first time Pret has publicly confirmed IPO plans for Pret. JAB – which also owns Krispy Kreme and Keurig Dr Pepper – announced last month it had hired hospitality industry stalwart Jose Cil as chairman of Pret's board. Mr Cil was most recently chief executive of Burger King owner Restaurant Brands International, which also owns chains including Popeyes. JAB has been contacted for comment. Pret recently announced it was dropping plans for a doubling of its current £5 monthly subscription for up to five coffees a day as it looks to retain customers against a difficult consumer spending backdrop. The group had previously told subscribers that their subscription would increase to £10 a month from March 31, when a '50% off' deal ended. It followed Pret overhauling its £360-a-year subscription in July last year in favour of 50% off up to five coffees a day for £10 a month. The chain also removed a 20% discount on food for subscribers to end dual pricing – 'something we never really got comfortable with', it said at the time. Under the old deal that lasted for almost four years, Club Pret membership offered up to five barista-made drinks daily for a monthly fee of £30. Pret is headed up by chief executive Pano Christou, who was promoted to the top job in 2019. The firm opened its first shop in London in 1986, where the company remains headquartered. It now has 700 shops worldwide with around 12,500 employees across 21 markets.
Leader Live
6 days ago
- Business
- Leader Live
Pret A Manger ‘considering stake sale ahead of possible flotation'
Luxembourg-based JAB Holding – which bought Pret for £1.5 billion in 2018 – told the Financial Times that while it was not 'currently' considering a stake sale in Pret, it could look at the move with an initial public offering (IPO) in its sights. 'As we move closer to a potential IPO, we may evaluate bringing on a pre-IPO investor,' it told the FT. It is thought to mark the first time Pret has publicly confirmed IPO plans for Pret. JAB – which also owns Krispy Kreme and Keurig Dr Pepper – announced last month it had hired hospitality industry stalwart Jose Cil as chairman of Pret's board. Mr Cil was most recently chief executive of Burger King owner Restaurant Brands International, which also owns chains including Popeyes. JAB has been contacted for comment. Pret recently announced it was dropping plans for a doubling of its current £5 monthly subscription for up to five coffees a day as it looks to retain customers against a difficult consumer spending backdrop. The group had previously told subscribers that their subscription would increase to £10 a month from March 31, when a '50% off' deal ended. It followed Pret overhauling its £360-a-year subscription in July last year in favour of 50% off up to five coffees a day for £10 a month. The chain also removed a 20% discount on food for subscribers to end dual pricing – 'something we never really got comfortable with', it said at the time. Under the old deal that lasted for almost four years, Club Pret membership offered up to five barista-made drinks daily for a monthly fee of £30. Pret is headed up by chief executive Pano Christou, who was promoted to the top job in 2019. The firm opened its first shop in London in 1986, where the company remains headquartered. It now has 700 shops worldwide with around 12,500 employees across 21 markets.
South Wales Guardian
6 days ago
- Business
- South Wales Guardian
Pret A Manger ‘considering stake sale ahead of possible flotation'
Luxembourg-based JAB Holding – which bought Pret for £1.5 billion in 2018 – told the Financial Times that while it was not 'currently' considering a stake sale in Pret, it could look at the move with an initial public offering (IPO) in its sights. 'As we move closer to a potential IPO, we may evaluate bringing on a pre-IPO investor,' it told the FT. It is thought to mark the first time Pret has publicly confirmed IPO plans for Pret. JAB – which also owns Krispy Kreme and Keurig Dr Pepper – announced last month it had hired hospitality industry stalwart Jose Cil as chairman of Pret's board. Mr Cil was most recently chief executive of Burger King owner Restaurant Brands International, which also owns chains including Popeyes. JAB has been contacted for comment. Pret recently announced it was dropping plans for a doubling of its current £5 monthly subscription for up to five coffees a day as it looks to retain customers against a difficult consumer spending backdrop. The group had previously told subscribers that their subscription would increase to £10 a month from March 31, when a '50% off' deal ended. It followed Pret overhauling its £360-a-year subscription in July last year in favour of 50% off up to five coffees a day for £10 a month. The chain also removed a 20% discount on food for subscribers to end dual pricing – 'something we never really got comfortable with', it said at the time. Under the old deal that lasted for almost four years, Club Pret membership offered up to five barista-made drinks daily for a monthly fee of £30. Pret is headed up by chief executive Pano Christou, who was promoted to the top job in 2019. The firm opened its first shop in London in 1986, where the company remains headquartered. It now has 700 shops worldwide with around 12,500 employees across 21 markets.
