Pret A Manger has unveiled plans to triple its presence in the US after signing a new joint venture with existing franchisee Dallas International.
The new company – Empire JointStar Inc – will see Dallas operate up to 50 of the food chain’s shops across New York, Pennsylvania and Washington DC. It will hold exclusive rights to open new outlets in those states.
The agreement means Dallas will operate more than 60 Pret shops in total by the end of February 2024 as part of the food chain’s target to reach 100 globally by 2026.
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The food business, which has 58-US based stores, said the new venture helps to accelerate its plan to its plan to “triple” its presence in the region over the next five years.
Pret A Manger chief executive Pano Christou said: “We have huge ambitions for Pret to become a more globally recognised brand that is working in partnership with our franchisees to unlock significant growth in new markets.
“This approach has driven significant growth in Europe and Asia and enabled Pret to track ahead of its mid-term global growth target to double the size of the business by 2026.
“We look forward to replicating these results in the US, building upon our already successful partnership with Dallas as we jointly pursue our next phase of growth.”
The food chain’s remaining US outlets will continue to operate as a mixture of equity-owned and under franchise agreements.
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