Pret A Manger staff are set to receive a £1,000 bonus when the company’s planned sale goes through.
The sandwich shop chain is set to be sold by private equity firm Bridgepoint to JAB for £1.5 billion, it was announced on Tuesday.
And the firm’s chief executive Clive Schlee said that thousands of the chain’s employees would receive a windfall when the deal is finalised.
“Today is a big day for @Pret,” he tweeted. “As we welcome JAB, we’ll be thanking the people who really matter by giving each of our 12,000 employees £1,000 when the deal completes.”
Pret staff receive a typical basic wage of £8.25 an hour in London and other expensive cities, the company says.
A spokeswoman for Pret could not confirm a date for when the deal will be completed, but said it is expected during the summer.
Mr Schlee earlier said: “This agreement recognises the hard work of all our amazing teams around the world. Bridgepoint has been wonderful owners of the business for more than a decade.
“All of us at Pret believe JAB will be excellent long-term strategic owners. JAB believes in Pret’s values and supports our growth plans.”
Pret has 530 stores worldwide and is rapidly expanding globally in countries such as the US, China and France.
It booked revenues of £879 million last year.
RELATED
Photographer captures the moment lightning hits the top of the Eiffel Tower
Since you are here
Since you are here, we wanted to ask for your help.
Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.
Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.
If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.
To donate or subscribe to The London Economic, click here.
The TLE shop is also now open, with all profits going to supporting our work.
The shop can be found here.
You can also SUBSCRIBE TO OUR NEWSLETTER .
