Latest news with #coffeeChain
The Independent
5 days ago
- Business
- The Independent
Pret plans mega-stores in bid to encourage people to dine in
Pret a Manger is set to introduce a new store format featuring made-to-order food and expanded dining areas, as part of an initiative to speed up its regional growth throughout the UK. The sandwich and coffee chain, long favoured by London commuters, aims to create an inviting atmosphere for customers to dine in and relax. This adjustment also reflects the increasing prevalence of remote working. With a current portfolio of 500 locations across the UK, Pret is testing the new format in Broughty Ferry near Dundee, and Maidenhead, Berkshire. It said this would differentiate from the format of most of its London stores, where it primarily sells 'grab-and-go' products, with customers typically served in less than a minute. It has developed an exclusive menu for the shops, where much of its menu is made to order, there is more space for dine-in customers and it will operate a Little Stars Cafe play area for families with young children. The move is part of efforts by Pret to expand beyond London, with the vast majority of its recent coffee shop openings taking place outside the capital. Clare Clough, Pret's managing director for UK & Europe, said: 'Throughout the past five years, we've made it a priority to bring Pret to more people, whether you're a City worker commuting to the office, a parent juggling work and family life, or someone catching up with friends. 'Now, we're taking that further, making Pret a destination for customers in a bit less of a rush who want a comfortable space to enjoy delicious food and spend time with family and friends. 'Our teams have been hard at work making sure everything from the shop design to the unique menu items have been carefully thought through and we can't wait to see how our customers respond.' The business was founded in London in 1986 by Julian Metcalfe and Sinclair Beecham. It was bought by German investor JAB Holdings in 2018 for around £1.5 billion. Last week, JAB said it could consider selling a stake in the sandwich chain ahead of a potential stock market flotation.
Telegraph
06-06-2025
- Business
- Telegraph
Private equity giant prepares Pret a Manger for stock market listing
Pret a Manger is heading for a potential stock market listing as the coffee chain's private equity owners seek to offload the business. Luxembourg-based JAB Holding has appointed advisers to explore options for Pret, with a proposed float deemed the most likely option. This could include bringing in another investor to shore up Pret's finances, as the business has struggled to restore its profits post-Covid. A spokesman for JAB Holding told the Financial Times: 'As we move closer to a potential IPO [initial public offer], we may evaluate bringing on a pre-IPO investor.' A staple of commuter lunches, Pret runs more than 690 shops across the world and is virtually ubiquitous in the City. However, it has steadily been expanding in the US and other markets, with New York now accounting for its highest sales outside of London. This raises questions over where JAB will look to list Pret, with a destination not yet decided. Any move to float Pret in New York would deal a further blow to the London Stock Exchange, which is already battling an exodus of companies and a dearth of new listings.
