The bakery chain wants to open 10 clubs in time for the new school year in areas of London, Manchester and Birmingham hardest hit by the riots including Peckham.
Greggs CEO Ken McMeikan said it would put up the funding for five clubs, which hand out free breakfasts to school kids and typically cost £1,8000 a year to run. It was seeking partners to finance the others and was currently in talks with one of the UK's five biggest supermarkets, he added.
Successful businesses had a duty to help people rebuild in the areas they operated, he said. "Any business that is growing has a disproportionate responsibility to help those who are disadvantaged."
Images of the fire in Peckham setting a Greggs store ablaze spurred McMeikan to take action. "It symbolised how there are difficult areas that need support to rebuild," he said. "There are a lot of young people that need businesses to do more to help them."
In addition to the fire at the Peckham store, a Greggs bakery in Enfield was looted and 26 shops were shut during the riots.