| You are in: Business | ||||||||||||||||||||||||
| Tuesday, 2 April, 2002, 09:35 GMT 10:35 UK Caffe Nero buys rival coffee chain The Aroma coffee house name is to disappear from UK High Streets, after Caffe Nero agreed to buy the chain from food giant McDonalds. The �2.15m purchase was an "important strategic move", Caffe Nero chairman Gerry Ford said. "It gives the group a quantum leap in increased scale on the High Street and accelerates the expansion of our brand considerably," Mr Ford said. While the 31-site Aroma chain made an operating loss of �3.7m last year, it should, after a "brief period of conversion", make an "important contribution to Caffe Nero profits", Mr Ford added. Caffe Nero estimated it would spend a further �140,000 on lay-offs at Aroma head office, with further cash spent on retraining staff and rebranding Aroma bars. | See also: Top Business stories now: Links to more Business stories are at the foot of the page. | ||||||||||||||||||||||
Links to more Business stories |
| ^^ Back to top News Front Page | World | UK | UK Politics | Business | Sci/Tech | Health | Education | Entertainment | Talking Point | In Depth | AudioVideo ---------------------------------------------------------------------------------- To BBC Sport>> | To BBC Weather>> ---------------------------------------------------------------------------------- © MMIII|News Sources|Privacy | ||