• Pret A Manger, the 530-unit UK-based sandwich-salad-coffee chain, is being sold to JAB Holdings, the German investment group that also owns Panera, Krispy Kreme and Keurig. Terms of the deal were not disclosed, though sources tell various news organizations that the price is in the $2 billion range.
Pret A Manger, which had $1.2 billion in total sales last year, has been owned for the last decade by private equity firm Bridgepoint.
Clive Schlee, Pret’s CEO, said that each of the company’s 12,000 employees will receive a check for more than $1300 when the deal is finalized.
• The Associated Press reports that “the European Union has proposed banning plastic products like cotton buds, straws, stirs and balloon sticks when alternatives are easily available in an attempt to reduce litter spoiling beaches and ocean beds. The European Commission said its proposal would seek to cut marine litter in half for the ten most prominent items and avoid environmental damage estimated at over $250 billion over the next dozen years.”
• The New York Times reports that PepsiCo is acquiring Bare Foods, which specializes in baked fruit and vegetable snacks. Terms of the deal were not disclosed.
According to the Times, “the purchase of a company that makes products like salt-and-vinegar beet chips and Granny Smith apple chips is its latest effort to diversify its food and beverage portfolio and move toward the more natural, less-processed foods that are now in favor by an increasingly health-conscious public.”
Pret A Manger, which had $1.2 billion in total sales last year, has been owned for the last decade by private equity firm Bridgepoint.
Clive Schlee, Pret’s CEO, said that each of the company’s 12,000 employees will receive a check for more than $1300 when the deal is finalized.
• The Associated Press reports that “the European Union has proposed banning plastic products like cotton buds, straws, stirs and balloon sticks when alternatives are easily available in an attempt to reduce litter spoiling beaches and ocean beds. The European Commission said its proposal would seek to cut marine litter in half for the ten most prominent items and avoid environmental damage estimated at over $250 billion over the next dozen years.”
• The New York Times reports that PepsiCo is acquiring Bare Foods, which specializes in baked fruit and vegetable snacks. Terms of the deal were not disclosed.
According to the Times, “the purchase of a company that makes products like salt-and-vinegar beet chips and Granny Smith apple chips is its latest effort to diversify its food and beverage portfolio and move toward the more natural, less-processed foods that are now in favor by an increasingly health-conscious public.”
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