Whitbread Acquires 49% Stake in ‘Pure’
Whitbread PLC announced today the acquisition of a 49% stake in London based company, Healthy Retail Ltd, trading as ‘Pure’, for £6.8 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:
Nicholas Cadbury, Group Finance Director +44 (0) 20 7806 5491
Anna Glover, Director of Communications +44 (0) 1582 844 244
Joanne Russell, Director of Investor Relations +44 (0) 1582 888 633
David Allchurch + 44 (0) 20 7353 4200