Pret buys Eat to expand Veggie Pret outlets » World Branding Forum
As the trend for vegetarian and vegan foods leaps ever-forward, Pret a Manger is buying the high street food chain Eat to convert most outlets into the Veggie Pret brand.
Pret a Manger opened it’s first Veggie Pret in September 2016, and has seen the concept expand to four locations since, in London and Manchester. This new deal will see many of the Eat locations turned into Veggie Prets and the remainder into traditional Pret a Manger outlets.
The CEO of Pret, Clive Schlee said that the move was required to meet the growing demand of vegetarian and vegan foods. According the The Vegan Society, the demand for the ever increasing trend of vegetarian and vegan food increased by 987% in 2017.
Andrew Aylwin, Chairman of EAT said: “Pret is a fantastic brand and this transaction represents a strong strategic fit with benefits for all concerned. I would like to thank Andrew Walker and his team for the outstanding job they have done revitalising the brand and business in the last few years and the company’s shareholders and lenders for their support.”