Global investment firm JAB is to acquire Pret A Manger from its private equity owner, Bridgepoint.

Clive Schlee, Pret’s chief executive, today tweeted: “As we welcome JAB, we’ll be thanking the people who really matter by giving each of our 12,000 employees £1,000 when the deal completes.”

The takeover is expected to be completed this summer, but terms of the transaction have not yet been disclosed.

Pret operates 530 stores worldwide, generating group revenues of £879 million.

Olivier Goudet, JAB partner and chief exective, commented: “We’re very excited to partner with Pret and its talented team to continue their extraordinary growth story.

“Management’s proven track record and commitment to customer service, investment in innovation and approach to freshly prepared food position Pret well as it capitalises on evolving consumer taste and lifestyle preferences.”

JAB is acquiring its stake in Pret through an investment vehicle of JAB Consumer Fund and JAB Holding Company.