EXCLUSIVE: Caffe Nero Group sees growth potential in Coffee#1, tags it as a 'premium brand'
The group also said that Coffee#1 could "stretch the geography" of the regions it currently operates in.
Caffe Nero Group says there is "scope" for recent acquisition Coffee#1 to continue to grow, expanding within areas it currently operates in.
"It could stretch the geography of the regions it currently operates in, and there is potential to open new coffee shops within the areas it is already present," Caffe Nero head of communications Gareth Hopley told QSR Media.
Caffe Nero Group is now the majority owner of Coffee#1, having acquired 70% worth of shares from former owner S.A. Brain. The group previously said that they plan to have the brand intact and to operate it as a standalone business.
"Coffee#1 is a successful business which trades very well and has seen strong growth in recent years. It is a premium brand which compliments The Caffe Nero Group very well," Hopley added.
Photo credit: Coffee#1 Facebook
