Caffè Nero has boosted its presence across Wales, the Midlands and southern England after acquiring a majority holding in the Coffee#1 chain. It has acquired about 70% for an undisclosed sum from SA Brain, the Welsh brewer and pub operator, which will retain the rest.
The deal gives Nero another 92 shops with a turnover of more than £30m plus a new brand alongside Caffè Nero, Harris+Hoole and Aroma. The group said that its intention was to “operate Coffee#1 as a standalone business”.
Brains has been seeking buyers for about 18 months. It bought the coffee business in 2011 when it had 15 stores.
