Man Capital-backed Nero Group to acquire the remaining 33% stake in Coffee#1 from Brain.

Man Capital-backed Nero Group, a British European style coffee house, agreed to acquire the remaining 33% stake in Coffee#1, a British coffee house chain that originated in Cardiff, from Brain, a regional brewery. Financial terms were not disclosed. “We’ve been delighted with the performance of the Coffee#1 business since it joined our Group in 2019. It is a fantastic brand with an emphasis on great coffee and service combined with a local community-based feel, which matches perfectly with the ethos of The Nero Group. As we emerge from the pandemic, our intention is to return to growing stores in our Group and investing in growth opportunities. Coffee#1 is very much part of that thinking. Acquiring Brain’s remaining position is the first step of this post-refinancing growth phase,” Gerry Ford, The Nero Group Founder and Group CEO.