Macfarlanes, travers act on pret buyout

Macfarlanes and Travers Smith have won key roles on the private equity buyout of sandwich chain Pret a Manger. The sale saw private equity house Bridgepoint Capital buy a controlling stake in Pret a Manger, in a deal believed to value the business at £350m.

Pret a Manger’s management and founders Julian Metcalfe and Sinclair Beecham will retain a significant stake. Travers Smith, led by private equity head Charles Barter, acted for longstanding client Bridgepoint.

Pret a Manger turned to Macfarlanes corporate partners Tim Lewis and Charles Meek. Its management received separate advice from SJ Berwin partner Steven Davis. US fast food giant McDonald’s, which owned 33 per cent of Pret a Manger, sold out of the company, represented by Reed Smith Richards Butler.