Gutom Staff PRET A MANGER
A&W Canada and Pret to continue development and growth!!!
VANCOUVER, BC, May 27, 2024 /CNW/ – A&W Revenue Royalties Income Fund (the “Fund“) (TSX: AW.UN) and A&W Food Services of Canada Inc. (“Food Services“) announce that Food Services and Pret A Manger (Europe) Limited (“Pret“) have agreed on a development plan to expand the Pret brand across Canada following the completion of a successful two year trial period first announced on June 2, 2022. Food Services has exclusive master franchisor rights to Canada for the Pret brand and will introduce Pret’s products to Canadian consumers in a variety of carefully selected formats, beginning with a national roll out of Pret coffee in A&W restaurants this fall.
The Pret brand was first offered in a trial pop-up format in certain A&W restaurants in 2022, and expanded to a first stand alone Pret location in downtown Toronto in 2024. The development plan calls for Food Services continuing to increase the number of physical locations offering Pret products across Canada over an initial ten-year development term. Sales of Pret products within A&W restaurants in the Royalty Pool will be subject to the 3% royalty paid by Food Services to the Fund.
