London-founded coffee chain Pret A Manger has announced it will no longer pursue its previously planned investment in Israel.
The coffee chain had agreed in 2022 to open 40 franchise stores in a 10-year agreement with Fox Group and restaurant operator Yarzin Sella in Israel.
Plans were in place for the first store to open by the end of this year.
A spokesperson for Pret A Manger said: “We had tried to delay this decision for as long as possible, but the significant ongoing travel restrictions have meant that our teams have not been able to conduct the checks and training needed to set up Pret in a new market.
Under the terms of Pret’s travel insurance, any colleagues travelling to Israel would not be insured.”
In a statement to the Tel Aviv Stock Exchange, Fox Group stated the London-based chain cancelled the license agreement between the parties, citing a force majeure event due to the ongoing war.
The decision comes after a growing boycott campaign led by the Palestine Solidarity Campaign (PSC) and activists, which highlighted the ethical and political implications of doing business in Israel.
The company has not cited the boycott as a reason for its divestment, but PSC said: “The boycott campaign that had begun against Pret has forced it to reconsider and reverse a major business decision.”
Activists had previously staged protests in front of Pret stores in Manchester and London.
Ben Jamal, Director of the Palestine Solidarity Campaign said: “This decision sends a message to all companies – if you provide support for Israel, you will face the strength of our movement who will boycott your products and protest at your stores.
“The people of the world are holding Israel to account by refusing to let their spending or saving finance war crimes.
“It’s high time our political leaders followed suit by ending arms sales, and financial and diplomatic support to Israel.”
Pret is among several companies such as Starbucks and McDonalds that have been boycotted due to the Israel-Palestine war.
Image credit: Scarlet Sappho under the Creative Commons licence
