Under the new partnership, Dallas International will assume operational control of around 50 Pret shops located across New York, Pennsylvania and Washington DC.
As well as having exclusive rights to open new outlets in these markets, it will also open more than 10 new Pret shops on the East Coast by 2026.
“Our vision, both within and beyond our involvement in this new joint venture, is to bring our freshly made food and organic coffee to more people at scale, faster than ever before,” says Jorrie Bruffett, Pret A Manger’s US president.
“The United States stands out as a significant growth market for Pret, with opportunities to trial new locations and shop formats, bringing our high-quality service and differentiated grab-and-go concept to more places.
“I am thrilled to continue working with Dallas to help us achieve this.”
This joint venture builds on the existing relationship between Pret and Dallas International, which includes separate franchise partnership agreements to build and operate a range of Pret shops, including in the UK and southern California.
As part of the new deal, Dallas International also intends to refurbish a number of shops it has inherited, and will work with Pret to develop and introduce new shop formats including drive-thru’s.
“We believe in Pret and are proud to be a strong partner to a marquee brand that is known and loved wherever it operates,” says Shane Thakrar, president and CEO of Dallas International.
“This new company further demonstrates our confidence in the brand, concept, and growth potential. We look forward to taking operational control of these prime locations and territories and further investing in new shop formats, operational excellence, and team members.
“Each market included in the deal has tremendous growth potential that will build on our already strong footprint in the United Kingdom and new operations in California, all underpinned by our strong partner, team and customer ethos.”
Pret operates more than 600 shops across 15 international markets, covering three continents.
Back in August, the group announced that half year revenue in 2023 reached £429.9m, growing by 20.2% compared with the same period in 2022.
International expansion has been listed by the chain as a key driver of this growth, with international sales now accounting for 18.9% of Pret’s revenue.
