SANDWICH chain Pret A Manger, which is soon to open a high profile branch in Southampton, could drop plans for a stock market flotation after receiving takeover interest from private equity firms.

The unsolicited approaches, thought to be from Lion Capital, Bridgepoint and PPM, have raised the prospect of a much bigger windfall for majority owners Julian Metcalfe and Sinclair Beecham, who founded the business in 1986.

Pret, which is to take over the former Nike store at the entrance of WestQuay shopping centre, revealed in April that it was at the early stages of considering a flotation on the London Stock Exchange, a move expected to value the company at between £300m and £350m.

Famous for its preservative-free food, the chain has around 160 shops in England and Scotland as well as branches in New York, Hong Kong and Singapore.

Pret last considered a flotation in 2001 but, instead, took the controversial decision to work with McDonald's which bought a 33 per cent non-controlling stake in the business for £50m.

Pret is likely to open 25 new shops in 2007, along with its new smaller Pret Pod sandwich kiosks in shopping centres, on retail parks and leisure schemes as well as at airports and railway stations.