London, United Kingdom – January 17, 2022 – Global investment firm Carlyle (NASDAQ: CG) today announced that its Global Credit platform has provided debt financing of c. £370 million to support the refinancing and future growth of The Caffè Nero Group (the “Group”), a leading premium coffee shop operator.
Founded more than 20 years ago by Gerry Ford, who remains CEO today, the Caffè Nero Group operates four premium coffee brands: Caffè Nero, Coffee #1, Harris + Hoole and Aroma. The Group has more than 1,000 stores in 10 countries, including c. 750 are based in the UK and employ over 7,700 people, of which over 5,600 are based in the UK.
As a result of this transaction, the Group has reduced its debt exposure while strengthening the company’s balance sheet and providing it with additional funds to support its growth plans. The ownership structure of the Group remains unchanged, with the majority shareholding remaining held by Gerry Ford, his family and friends.
Gerry Ford, Founder and CEO of Caffè Nero Group, said: “Our new capital structure will allow us to focus on future growth, and I really look forward to working with Carlyle as we leverage their financial expertise and strategy to take the Caffè Nero brand to new heights.”
Taj Sidhu, Head of European Illiquid Credit at Carlyle, said: “We look forward to supporting Caffè Nero Founder and CEO Gerry Ford and his team in their next phase of growth. This transaction is a great example of Carlyle’s flexible capital and track record of privately negotiating capital solutions for founders and entrepreneurs.”
Merrill Goulding, Managing Director of Carlyle’s Illiquid Credit platform, said: “We are delighted to partner with Caffè Nero, a popular retail brand with a reputation as a supplier of high-quality, premium coffee for several years. decades. We are excited to support the many growth opportunities that the company faces as it continues to capitalize on its competitive offering and market-leading positioning.”
Within Carlyle’s $66 billion global credit platform, its illiquid credit business pursues investments in privately negotiated capital solutions primarily for upper-middle-market borrowers, including capital-sponsored companies. investment and family or entrepreneur-owned businesses.
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Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business lines: Global Private Equity, Global Credit and Global Investment Solutions. With $293 billion in assets under management as of September 30, 2021, Carlyle’s goal is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. . Carlyle employs more than 1,800 people in 26 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.