Pret currently has 58 shops across the US

Pret a Manger has signed a new joint venture with existing franchisee Dallas International as part of plans to triple its presence in the US over the next five years.

Under the name of the new company, which is called Empire JointStar Inc, Dallas will take on the management of up to 50 Pret shops across New York, Pennsylvania and Washington DC, and will hold exclusive rights to open new Pret outlets in these areas.

Dallas plans to refurbish existing Pret stores, as well as work to develop new shop formats. Under the same agreement, Dallas also plans to build up to 10 new Pret stores on the East Coast by 2026.

Dallas already has franchise agreements managing eight Pret stores in the UK, and a further 40 in southern California. The new agreement means Dallas will operate more than 60 Pret shops in total by the end of February 2024, with the aim of growing to 100 globally by 2026, Pret said.

“We believe in Pret and are proud to be a strong partner to a marquee brand that is known and loved wherever it operates,” said Shane Thakrar, Dallas president and CEO.

“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 UK and new operations in California, all underpinned by our strong partner, team and customer ethos.”

Pret has been working to expand its global presence with the aim of doubling the size of its business by 2026. The strategy, which was first announced in 2021, has focused on growing its network of franchise partners.

Pret’s remaining US shops will continue to operate as a mixture of equity-owned and under other franchise agreements.

Pret currently has 58 US-based shops in New York, New Jersey, Pennsylvania, Washington DC, California and Illinois. It has a further eight in Canada. The new agreement accelerates its plan to “triple” its business in the US over the next five years, Pret 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,” said Pret CEO Pano Christou.

“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.”