Pret a Manger reportedly nearing deal to buy Eat
Sandwich chain Pret a Manger was on Thursday said to be close to a deal to buy smaller rival Eat.
According to the Evening Standard, the two companies are at an advanced stage, with Pret set to buy the majority of Eat's 94 shops or the entire business. It cited sources close to the deal as saying that it wants to turn Eat sites into Veggie Prets to cater to the growing trend for plant-based foods.
According to the Financial Times, which cited a person who has been briefed on Pret's plans, nothing has been signed yet but the details are being ironed out.
Pret a Manger was bought by Luxembourg-based JAB Holdings last year for £1.5bn. It opened its first Veggie Pret in 2016 on Soho's Broadwick Street and now has three in London and one in Manchester.