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JAB Holding Explores Pret A Manger Stake Sale as IPO Looms

It has hired advisers to review exit options as Pret navigates mounting debt following last year’s financial loss.

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Overview

  • JAB Holding told the Financial Times it is not “currently” considering a stake sale in Pret A Manger but could bring in a pre-IPO investor to prime the company for an eventual flotation.
  • Pret A Manger posted a £60 million loss in 2023 and ended last year with almost £750 million in debt after securing a £250 million capital injection last September.
  • The chain scrapped plans to double its monthly coffee subscription fee from £5 to £10 following subscriber dissatisfaction in a challenging consumer spending climate.
  • Jose Cil, former CEO of Restaurant Brands International, was named chairman of Pret’s board last month as the business gears up for a potential IPO.
  • With system sales surpassing £1.1 billion and 700 outlets across 21 markets, Pret continues to expand globally, placing particular emphasis on growth in the US.