Sale of EAT. to Pret A Manger

DATE
May 2019

TRANSACTION TYPE
Corporate Acquisition

VALUE
Undisclosed

SECTOR
Retail & Leisure

Spayne Lindsay is delighted to announce that it has advised on the sale of EAT., the leading British food-to-go retailer, to Pret A Manger (“Pret”), the UK-based international sandwich shop chain.

Spayne Lindsay was appointed by EAT. to explore exit options, with the objective of maximising value on the back of management’s successful revitalisation of the brand and business. Following discussions with several UK and international strategic parties introduced by Spayne Lindsay, Pret emerged as the party with the strongest strategic fit, offering a great deal to EAT. stakeholders.

This transaction enabled Spayne Lindsay once again to demonstrate its exceptional expertise and relationships in the international consumer sector and continue its successful track record in the ‘eating out’ space.

Andrew Aylwin, Chairman of EAT., commented:

“We are delighted with the outcome of this transaction, which is borne from the outstanding commitment of EAT.’s passionate and talented team who provide our customers with great food and excellent service.  I am delighted that their efforts and EAT.’s outstanding performance have been recognised through this transaction.

Spayne Lindsay, with whom we worked closely since their appointment in 2018, introduced us to a broad range of potential UK and international trade buyers.  They were a valuable partner throughout the process and I would have no hesitation in recommending them to anyone looking for the highest standards of M&A advice in the international consumer sector.”