High street sandwich chain Pret is said to be in talks with private equity firm Bridgepoint to buy out McDonald's 33 per cent stake in Pret.

According to the BBC the founders and majority owners of Pret, Julian Metcalfe and Sinclair Beecham are highly likely to confirm a deal with Bridgepoint. The deal, which is expected to be completed this month would be worth a likely £359 million.

Both founders are expected to keep a large stake in the firm. McDonalds' bought its stake in Pret in 2001. Pret has around 150 stores, most of which are in the UK.

Last December there were reports that a planned auction of Pret fell through when Lion Capital, FL Group, Morgan Stanley, PPM Capital and Advent all withdrew from the bidding.