Carlyle refinances Caffè Nero

Carlyle has announced that its credit platform provided a debt financing package of roughly £370 million to support the refinancing and future growth of The Caffè Nero Group, an operator of coffee shops.

As a result of this transaction, the group has reduced its debt exposure while strengthening its balance sheet and gaining additional funds to support growth plans. The ownership structure of the group remains unchanged, with the majority shareholding remaining with Gerry Ford and his family and friends.

Founded more than 20 years ago by Gerry Ford — who remains CEO today — The Caffè Nero Group operates four coffee house brands: Caffè Nero, Coffee #1, Harris + Hoole, and Aroma. The group has more than 1,000 stores across 10 countries, of which some 750 are based in the U.K., and employs more than 7,700 staff, of which more than 5,600 are U.K.-based.