Pret A Manger is expanding its shop estate in Scotland, with six new locations being set up by franchise partner Joup Group.
Three existing Pret sites are also being acquired by the Glasgow-based franchisee, which already owns six Dominos franchises across the Dundee and Angus region.
A seven-figure funding package from HSBC UK is helping facilitate the shop purchases and new openings for Joup Group, which is set to double its turnover via the expanded operations.
The six new stores – three based in Edinburgh and three in Dundee – are expected to open between June and September 2024. Joup Group revealed the biggest shop of these will span more than 4,000 sq ft. It is predicted the new openings will create over 150 jobs across Scotland including roles as full-time supervisors and part-time baristas.
“We are really excited to continue to grow our business by becoming the Pret a Manger franchisee in Scotland,” commented Henry Dawes, CEO of Joup Group, adding “we would not have been able to make this happen if it was not for the consistent support from HSBC UK.”
Kevin McKenna, relationship director at HSBC UK, noted the bank had been supporting Joup Group’s ambitions for the past 14 years. “This funding package is particularly satisfying given the creation of more than 150 jobs, which will provide an economic boost to communities across Scotland,” he said.
According to its website, Pret currently has 17 shops in Scotland – eight in Edinburgh (including two at the airport), six in Glasgow, two in Aberdeen, and one in St Andrews.
Global growth
Pret said it was gearing up for its next phase of international growth with a series of Board changes announced last month, which were said to support further development partnerships with strong local franchise partners in a growing group of countries.
Having served as chairman since Pret was acquired by JAB Holding in 2018, Olivier Goudet will be succeeded by his colleague and JAB partner, Konrad Meyer. Meanwhile, Pret co-founder Sinclair Beecham is returning as an advisor and former chairman Larry Billett has been appointed non-executive director and chair of the Audit Committee. Patrice de Talhouët and Nathalie Roos are stepping down as non-executive directors.
The London-headquartered food-to-go business is currently serving customers in 18 markets, including the UK, US, Canada, France, Belgium, Luxembourg, Spain, Italy, Switzerland, Germany, Hong Kong, Singapore, India, and the Middle East – up from just four markets in 2018. It opened its first shop in Northern Ireland last year.
Pret revealed expectations of launching just short of 150 new shops globally this year, which would mark the second straight year where it opened more sites overseas than within the UK.
It plans to hit a UK milestone of 500 shops by the end of this year, with an ambition to reach between 1,000 and 1,500 locations worldwide in the coming years.
Pret placed seventh in the list of Top 75 out-of-home bakery businesses compiled in our recent Bakery Market Report 2024, which you can view online for free here.
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