UK sandwich maker and coffee shop chain, Pret A Manger, has reportedly received takeover approaches from Iceland’s Kaupthing Bank and, separately Bridgepoint Capital and PPM Capital.
Kaupthing is already renowned for helping to finance Iceland’s continuing love interest in buying up a substantial part of the UK high street.
In 2005, the bank backed the Apax-Tchenguiz consortium that bought UK supermarket Somerfield.
In June this year, Pret’s co-founder Julian Metcalfe hired NM Rothschild to advise his company on several approaches, having revealed plans in April to float the business.
Other mooted bidders include McDonald’s, which bought a 33% stake in Pret in 2001 for £50m, in addition to Costa Coffee, Starbucks and Marks and Spencer.
Pret’s 160 outlets both in the UK and abroad make £14m in profit on £200m in turnover.