Caffè Nero Group has today announced that it has become the majority owner of Coffee#1, the Wales, Midlands and Southern England based coffee chain. The Group has bought shares from S.A. Brain, its owner since 2011.
Coffee#1, which opened its first coffee shop in 2001, currently has 92 shops across the region, with sales at over £30m.
The acquisition gives the Caffè Nero Group close to 70% ownership of Coffee#1, with S.A. Brain retaining circa 30% ownership. The Coffee#1 brand will sit alongside the Group’s other brands: Caffè Nero, Harris+Hoole and Aroma. The Group’s intention is to leave the Coffee#1 brand intact and to operate it as a standalone business.
The Caffè Nero Group has acquired Coffee#1 as part of its ongoing growth strategy, which sees it open a new store somewhere in the world every four days. The Group now has over 750 stores in the UK, and a total of over 1,000 stores internationally across 10 countries.
Founder and Group CEO Gerry Ford commented: “We’re delighted to welcome Coffee#1 into the Caffè Nero family. It is a fantastic brand with an emphasis on great coffee and service combined with a local community-based feel which matches perfectly the ethos of The Caffè Nero Group. Coffee#1 will continue to operate regionally and grow alongside the Caffè Nero brand.”
John Rhys, Chairman of S.A. Brain commented: “I am proud of what we have achieved in growing Coffee#1 to 92 stores since we acquired the business seven years ago. I would like to thank our employees and everyone involved for making it such a resounding success. The 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 its development. As ongoing significant shareholders in the business, we look forward to seeing Coffee#1 continue to grow and prosper within the Caffè Nero family over the coming years.”