Whitbread PLC Acquisition (0860X)
May 03 2016 - 7:24AM
UK Regulatory
TIDMWTB
RNS Number : 0860X
Whitbread PLC
03 May 2016
WHITBREAD ACQUIRES 49% STAKE IN 'PURE'
3 May 2016: Whitbread PLC announced today the acquisition of a
49% stake in London based company, Healthy Retail Ltd, trading as
'Pure', for GBP6.8 million. Whitbread has the option to acquire the
remaining 51% stake within the next five years. The business will
continue to be managed and operated by the Pure management
team.
Pure is a food-led grab and go and online delivery concept, that
specialises in fresh, natural healthy meals made individually for
the customer. Pure currently has eight shops in London's West End
and The City and further sites in the pipeline.
Alison Brittain, CEO of Whitbread comments: "I am very impressed
by Pure, which appeals to health conscious busy people, offering a
choice of natural fresh food. As the UK's largest hospitality
company, it's vital that Whitbread has its finger on the pulse of
consumer trends and that we innovate with new formats and concepts.
I see considerable opportunities to grow the brand and by taking a
stake in Pure we fast become part of a business that specialises in
the exciting growth market for natural, healthy takeaway food and
drink."
Spencer Craig, Founder and Managing Director of Pure says: "We
are very excited about our partnership with Whitbread. I knew from
our first meeting that our shared values of looking after our
people and providing the best possible customer experience made
this an obvious partnership. We have built a loyal customer base as
people increasingly demand delicious, seasonal and handmade food at
work or on the move. We're growing fast and have plans to open more
shops over the next three years. With Whitbread's backing and
support we are looking forward to sharing our food with many more
people and injecting further pace into building the Pure brand and
expanding our network of shops."
For further information contact:
Whitbread
Nicholas Cadbury, Group Finance +44 (0) 20
Director 7806 5491
+44 (0) 1582
Anna Glover, Director of Communications 844 244
Joanne Russell, Director of +44 (0) 1582
Investor Relations 888 633
Tulchan
+ 44 (0) 20
David Allchurch 7353 4200
This information is provided by RNS
The company news service from the London Stock Exchange
END
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