Global fast food giant McDonald’s Corporation has bought a 33% stake in UK-based sandwich chain Prêt a Manger.
Prêt a Manger will use the money to help it expand internationally. The founders and existing shareholders, Julian Metcalfe, Sinclair Beecham, Andrew Rolfe and Harvey Smyth, will retain management control and a majority stake in the company.
Prêt a Manger has 100 shops in the UK and opened its first overseas outlet in New York last year.
It plans more openings in Manhattan this year and is also looking to expand in Asia.
Andrew Rolfe, chief executive of Prêt a Manger, said: "We explored various options to support our ambitious growth plans, including public flotation. The McDonald’s investment is the best possible outcome, as they will provide so much more than just money.
"They have unmatched international experience and capability."
Claire Babrowski, executive vice president of McDonald’s, said of the investment in Prêt a Manger: "It provides McDonald’s with another opportunity to advance our long-term strategy to seek a greater share of the informal eating-out market by capturing meal occasions that don’t make sense for McDonald’s to offer.
The move is the latest in a series of diversifications for McDonald’s.
Two years ago it bought UK-based coffee shop chain Aroma for between £10m and £15m. It has also acquired US chains Donatos Pizza and Chipotle Mexican Grill in the past three years.
A spokesman for Prêt a Manger said: "In terms of the food side of things, nothing will change at all. We’re not about to change the culture of Prêt or the way we go about preparing our food or organising our menu.
"This is purely a business deal concerned with international expansion."
Prêt a Manger prides itself on selling "high-quality" natural food.