By Denis Sheehan, Publisher, H&C News: Nero acquires Brain’s 33% stake in Coffee#1 taking 100% control.
The Nero Group has announced reaching agreement to acquire SA Brain’s remaining 33% stake in Coffee#1.
Nero and one of its supportive shareholders originally bought 67% of Coffee#1 in 2019 from owner S.A. Brain, the Welsh Brewery.
Coffee#1 operates across Wales, the Midlands and Southern England, and opened its first store in 2011.
Since buying the majority share of the Coffee#1 business in 2019, the Group has managed the Coffee#1 brand, including making significant operating improvements and growing the business from 92 stores to 102 stores today.
Coffee#1 has proven to be a robust business. Its strength and popularity has been demonstrated through its quick rebound from the pandemic following the removal of restrictions.
It has averaged 104% of pre-pandemic sales over the last four months. Plans are for Coffee#1 to continue to operate as a standalone brand alongside the…
