Tweet
Caffè Nero founder and chief executive Gerry Ford has agreed the management buyout of the 282-strong coffee shop chain.
The new owner is with Rome Holdco, which was set up for the purposes of the deal by Ford. The sale represents a 15.1 multiple on earnings before interest, tax, depreciation and amortisation and values the group at 270p per share.
Ford, who hopes the move private will squeeze extra value out of the business, said: "I believe the next stage of the company’s development will be best achieved in the private arena as we continue our expansion plan going forward."
By Tom Bill
Sales and profits surge at Caffè Nero but firm’s takeover status remains unknown>>
E-mail your comments to Tom Bill here.
Get your copy of Caterer and Hotelkeeper every week - click here to subscribe and save 25%.
Using foraged ingredients is nothing new but the trend has become more mainstream over the past two years. However, the wider use of foraged food in restaurants also carries a certain amount of danger.
Watch here
Best of Chef – now available online View it now
09 Feb 2012
10 Feb 2012
08 Feb 2012
06 Feb 2012
07 Feb 2012
31 Jan 2012
30 Jan 2012