JAB Holding Co., the owner of Peet’s, Stumptown Coffee, Krispy Kreme, Einstein Bros. Bagels, Keurig Coffee and Panera Bread, has plans to buy Pret a Manger, according to a report by Eater. With the purchase, JAB plans to expand the grab-and-go U.K.-based sandwich chain throughout the U.S.
Pret offers quick and healthy ready-made and packaged sandwiches and lunch options such as paninis , cold sandwiches, and salads. It also serves coffee drinks. The company has locations throughout Europe, the Middle East, and China. JAB is expected to pay $2 billion for Pret.
Pret opened its doors in London in 1983. It is a popular chain in the U.K. and has locations mostly on the east coast. Currently, there are under 100 locations in the U.S., making it an unfamiliar brand for most Americans.
The name Pret a Manger literally means “ready to eat” in French. This is actually a derivative of the French fashion phrase prêt-à-porter, or “ready to wear.” Its U.S. locations also include soups, salads, and other hot plate items including breakfast pastries.
JAB also recently purchased Dr. Pepper and Snapple. It has also been buying coffee brands as way to offer an alternative to Starbucks’ long waiting lines.