Caffè Nero takeover deal completes returning the business to private hands

Caffè Nero chairman Gerry Ford has succeeded in his bid to take back control of the company he bought in 1997.

 

In an announcement to the City today the deal made by Ford through bid vehicle Rome Bidco for the company on the 7 December was declared unconditional.

 

It is expected the company will delist from the Alternative Investment Market from the 16 February.

 

The £225m buyout will see the 282-outlet company going back into private hands, despite a strong showing financially in recent months.

 

As part of the deal private equity company Paladin will maintain a significant share holding in the company.

 

Ford has said he wants to take back control of the company because he sees that as the best way at the moment to expand the business.

 

Caffè Nero was established in London by Ian Semp in 1990.

 

Caffè Nero poised to return to private ownership >>

 

Caffè Nero boss agrees deal to take company private >>

 

Sales and profits surge at Caffè Nero but firm's takeover status remains unknown >>

 

Strong growth predicted for £1b UK branded coffee bar market >>

 

Caffè Nero website >>

 

By Chris Druce

 

E-mail your comments to [Chris Druce](chris.druce@rbi.co.uk?subject=Caffè Nero takeover deal completes returning to the business to provate hands) here.

 

Get your copy of Caterer and Hotelkeeper every week -