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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:

18 Feb 02 | Business
Caffe Nero to buy Aroma sites
28 Jun 01 | Business
Coffee Republic cuts losses
13 Feb 02 | Business
Coffee firm swallows London slowdown
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