JAB buys majority stake in Britain’s Pret A Manger

JAB Holdings, the private company of Germany’s billionaire Reimann family, can be expanding its coffee empire that has a majority stake in British sandwich as well as coffee shop chain Pret A Manger.

Luxembourg-based JAB can be buying Pret by private equity firm Bridgepoint as well as various other minority investors for an undisclosed sum, Pret said on Tuesday.

A Pret spokeswoman declined to comment on the value of the deal, nevertheless the Financial Times reported earlier of which the cost was 1.5 billion pounds ($2 billion) including debt.

The deal marks the latest in a string of coffee industry acquisitions by JAB, including Keurig Green Mountain as well as Peet’s Coffee & Tea, as of which looks to challenge Swiss food as well as beverage giant Nestle.

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