3rd May 2016 12:29
LONDON (Alliance News) - Whitbread PLC on Tuesday said it acquired a 49% stake in Healthy Retail Ltd, which trades as Pure, for GBP6.8 million.
The FTSE 100-listed owner of Premier Inn hotels and the Costa Coffee chain said it also has an option to acquire the other 51% of Pure over the next five years.
Pure is a food-to-go business which specialises in healthy meals made individually for customers. It currently has eight shops in London's West End and in the City of London, with further sites in the pipeline.
"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," said Alison Brittain, Whitbread's chief executive.
"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," she added.
Whitbread shares were down 0.2% to 3,863.00 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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