Pret A Manger to be acquired by Panera owner JAB

The restaurant chain Pret A Manger is being acquired by the European investment firm that bought Panera Bread last year.

Continue Reading Below

JAB Holding Co., based in Luxembourg, did not disclose the financial terms of its deal with the current owner, the private equity firm Bridgepoint. The sale is expected to close this summer.

Pret has 530 locations, known largely for sandwiches and salads. Its biggest presence is the United Kingdom, where it is based, but it also runs restaurants overseas, including in the U.S.

JAB bought Panera last year for more than $7 billion. JAB also has controlling stakes in Krispy Kreme Doughnuts, Keurig Green Mountain, Peet's Coffee & Tea, Caribou Coffee Co.