Move over, McDonald’s. Greggs is king of the British breakfast and its meal deal costs less than $4
CNN
Forget the Egg McMuffin. Brits are going crazy for the bacon and sausage buns offered by Greggs, a 85-year-old chain of budget bakeries that just posted its best-ever year.
Forget the Egg McMuffin. Brits are going crazy for the bacon and sausage buns offered by Greggs, an 85-year-old chain of budget bakeries that just posted its best-ever performance. The company said Tuesday that it had taken 19.6% of the food-to-go breakfast market in the United Kingdom last year — knocking McDonald’s (MCD) off the top spot — and snagged 8.2% of the overall market for takeaway food. That share is at an all-time high and up from 7.7% in 2022. Pre-tax profit also jumped more than 13% last year to a record high of nearly £168 million ($213 million). Greggs is expanding quickly: it had nearly 2,500 stores across the UK at the end of 2023 — significantly more than the 1,450 stores McDonald’s has in the UK and its neighbor Ireland — and plans to open as many as 160 this year. McDonald’s UK did not immediately respond to a request for comment. Greggs started out as a family-run business delivering bread and other baked goods to mining communities in Newcastle, a city in the northeast of England, drawing cost-conscious consumers to its stores ever since.
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