Pret A Manger, the UK coffee and sandwich chain, has purchased its rival EAT, and intends to convert the majority of the 94 shops into “Veggie Prets” which will sell only vegan and vegetarian products, as it responds to the growing plant-based demand.
The acquisition of the smaller chain EAT, which is located around England with some located in European airports, has been estimated at around £55M. At present, only four of Pret’s 400 stores in the UK are fully vegan, and this move will see the company operating around 100 solely vegetarian and vegan outlets.
Pret chief executive Clive Schlee 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.”