Pret a Manger buys out rival Eat to expand number of veggie stores

Pret a Manger have taken over rivals Eat in a bid to boost their veggie brand
Pret a Manger said they hoped the takeover would boost their veggie brand (Picture: Reuters/Hannah McKay)

Pret a Manger has confirmed it has bought out rival food and drink retailer Eat, in a move the company said will help boost its vegetarian brand.

It confirmed it would take over 94 Eat shops and convert as many as possible into Veggie Prets amid a growing demand for plant-based food options.

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.’

File photo dated 18/09/17 of a man shopping in a Pret A Manger store in Melcombe Street in central London. Pret a Manger has agreed to buy fellow food and drink retailer Eat. PRESS ASSOCIATION Photo. Issue date: Wednesday May 22, 2019. See PA story CITY Pret. Photo credit should read: Nick Ansell/PA Wire
Pret a Manger has agreed to buy fellow food and drink retailer (Picture: Nick Ansell/PA Wire)
A view of a sign for an EAT. sandwich shop in London.
The retailer is expected to turn many of the Eat stores into Veggie Prets (Picture: Mike Egerton/EMPICS Sport)
Veggie Pret in Soho, London
Pret already has four hugely successful vegetarian stores in London and Manchester (Picture: Pret A Manger)
Veggie Pret in Soho, London (Picture: Pret A Manger)
The expansion comes as more and more people demand plant-based options (Picture: Pret A Manger)

The deal, which had been rumoured to be on the cards since last week, will provide an exit for struggling Eat, whose accounts showed £17.26million pre-tax losses in the year to 28 June, 2018.

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Its 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 has over 500 shops in nine countries.

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