A sandwich chain is giving out $1,300 bonuses to every single worker after a $2 billion deal
- Pret A Manger announced its acquisition by investment firm JAB - which also owns Panera and Krispy Kreme - on Tuesday.
- Every worker on Pret A Manger's payroll will receive a $1,300 bonus when the deal closes this summer.
- The acquisition reportedly values sandwich chain Pret A Manger at $2 billion.
Sandwich chain Pret A Manger is giving all of its workers a bonus following a $2 billion acquisition deal.
On Tuesday, global investment firm JAB announced a deal to buy British sandwich chain Pret A Manger. While the companies did not disclose terms of the deal, Reuters reported the acquisition values Pret at more than $2 billion.
The deal means that workers are getting a major pay day.
"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 A Manger CEO Clive Schlee tweeted on Tuesday.
That means each worker will receive more than $1,300. The bonuses will be paid to all employees on payroll the week the deal completes, The Guardian reports, which is expected to occur this summer.
"It's serendipity for those who have just joined," Schlee said.
Pret A Manger has 530 stores worldwide, opening locations in the United States, Hong Kong and China, and France in recent years. The chain is known for its upscale sandwiches and organic coffee. JAB is acquiring Pret from private-equity firm Bridgepoint.
JAB has been building a coffee empire in recent years. It spent roughly $7.5 billion to acquire Panera in 2017. The firm also paid about $1.35 billion to buy Krispy Kreme Doughnuts in 2016.
"Management's proven track record and commitment to customer service, investment in innovation and approach to freshly prepared food position Pret well as it capitalizes on evolving customer taste and lifestyle preferences," Olivier Goudet, JAB partner and CEO, said in a statement.