JAB Holding, which acquired Pret A Manger for £1.5 billion in 2018, is reportedly considering selling a stake in the sandwich chain ahead of a potential initial public offering (IPO). The Luxembourg-based firm stated that while it is not currently pursuing a stake sale, it may evaluate bringing on a pre-IPO investor as it moves closer to a possible stock market listing. This is the first time Pret A Manger has publicly confirmed IPO plans. JAB recently appointed Jose Cil, former chief executive of Restaurant Brands International, as chairman of Pret’s board. Pret operates 700 shops worldwide, employs around 12,500 people, and is present in 21 markets. Pret recently decided not to double its £5 monthly coffee subscription fee, reversing a plan to raise it to £10 per month. The company had previously overhauled its Club Pret membership, which offers up to five barista-made drinks daily for a monthly fee. JAB Holding also owns Krispy Kreme and Keurig Dr Pepper.