Pret owner explores options ahead of possible IPO

Pret A Manger owner JAB Holding is considering bringing in new investors ahead of a possible stock market flotation for the sandwich chain.

It is understood that the European investment group has drafted in advisers to explore its options for the business, including selling a minority stake, The Financial Times reported.

However, JAB said it is “not currently” selling any shares in Pret. “As we move closer to a potential IPO, we may evaluate bringing on a pre-IPO investor,” the company said.

The move comes as the parent company shifts its focus away from consumer brands like Pret and Krispy Kreme towards financial services, such as insurance and asset management.

JAB has also recently appointed former boss of Burger King-owner Restaurant Brands International José Cil as chair of Pret and the other food businesses it owns.

An IPO would mark a major step for Pret, which was acquired by JAB for £1.5bn in 2018.

The sandwich chain saw its sales jump 10% in the first six months of 2024, driven by its international expansion which now accounts for a quarter of all revenue.

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