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.

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Caffè Nero website >>

By Chris Druce

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