JAB Holding Co., which owns Panera Bread, Krispy Kreme and Peet's Coffee, has agreed to acquire sandwich chain Pret A Manger from Bridgepoint Advisers in a deal estimated to be worth $1.9 billion, according to Fortune.
Bridgepoint Advisers paid $463 million for Pret A Manger in 2008. The company generates $1.1 billion in annual revenue across its 530 worldwide stores.
Pret CEO Clive Schlee tweeted that all Pret's 12,000 employees will receive a $1,323 bonus when the deal is completed.