Caffe Nero has also bought the rights to the Aroma brand worldwide. Caffe Nero will close some of the Aroma branches, but the majority will be converted to its own format--at a cost of £60,000 ($86,000) per branch--making it the leading UK independent with 106 coffee bars
In 2001, Aroma produced an operating loss of £3.7 million ($5.3 million) on a turnover of £9.2 million ($13.2 million). The book value of the Aroma coffee bars is £3.0 million ($4.3 million).
Caffe Nero Chief Executive Gerry Ford said: 'The acquisition of Aroma is an important strategic move for Caffe Nero. It gives the Group a quantum leap in increased scale on the high street and accelerates the expansion of our brand considerably.'
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