Pret A Manger plans IPO

Gourmet sandwich chain Pret A Manger is considering an initial public offering (IPO) on the London Stock Exchange to help finance its rapid expansion plans.

The sandwich and salad retailer, which currently operates 180 outlets located predominately in the UK, said that while an IPO is on the cards, it has not hired any banks to advise on this.

Pret, which could be valued at up to £280m, operates outlets in the UK, USA, Hong Kong and Singapore. It is planning to expand its presence in the USA where it currently runs 11 shops in New York.

The company, which is owned by co-founders Julian Metcalfe and Sinclair Beecham and McDonald’s (which owns a 33% non-controlling stake), last year reported a pre-tax profit of £8m on a turnover of £190m.

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By Kerstin Kühn

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