Rachel Johnson 7pm - 9pm
Pret A Manger Buys Rival EAT To Expand Their Vegetarian Brand
22 May 2019, 11:32
Pret A Manger has bought out rival food and drink retailer Eat.
The company says will take over the 94 outlets and convert as many of them as possible into Veggie Prets.
They say there is a growing demand of vegetarian and vegan customers and the purchase will allow them to serve that market.
Clive Schlee, CEO of Pret said: "The purpose of this deal is to serve a growing demand of vegetarian and vegan customers who want delicious, high-quality food and drink options.
"We have been developing the Veggie Pret concept for over two years and we now have four hugely successful shops across London and Manchester.
"The acquisition of the Eat estate is a wonderful opportunity to turbo-charge the development of Veggie Pret and put significant resources behind it."
Eat's CEO Andrew Walker said: "Eat's passionate and talented team are what make the business; their commitment to providing our customers with great food and excellent service is at the heart of the company's outstanding recent performance. I am delighted that their efforts have been recognised through this transaction."
Pret a Manger is owned by investment company JAB Holdings, which acquired a major stake the chain last year for £1.5 billion.
The company made the newspapers last year when the CEO revealed its staff are allowed to give free coffee to customers who they consider to be worthy.