Cafe Nero takes a big slice of Coffee#1
Opening a new store worldwide every four days, Café Nero has now also acquired 70% of the Coffee#1 chain, adding another 92 shops to Nero’s enterprise that has a turnover of £30 million!
The Coffee#1 chain has sites across Wales, The Midlands, and Southern England. The coffee shops will not be re-branded, keeping their own identity they will evolve as standalone businesses under new ownership. The deal is a strategic decision to continue with the company's ongoing growth plans.
It is also a beneficial move for Coffee#1 with John Rhys the Chairman stating “The (Coffee#1) Board has resolved that now is the time to join up with a major player in the coffee market to take it forward to the next stage of development.”
Café Nero is renowned for buying out smaller coffee chains. Back in 2016 the company secured the Harris and Hoole chain from Tesco and in 2002 the brand also bought 26 Aroma coffee sites from McDonald's for a sum of around £3.5m.