The owner of Dr Pepper and Krispy Kreme is deepening its bet on prepared food, saying it has agreed to buy Pret A Manger, the British sandwich chain that has been rapidly expanding in the US.

Privately held JAB Holding on Tuesday said it would acquire Pret from private-equity owner Bridgepoint. The deal values Pret at around $2bn including debt, according to a person familiar with the matter.