Caffè Nero acquires Harris + Hoole from Tesco
Caffè Nero has acquired the Harris + Hoole coffee shop chain from Tesco for an undisclosed sum, as the supermarket continues to sell off its non-core assets.
Harris + Hoole employs around 400 people and currently has 43 sites, of which 12 are on the high street and 31 are in Tesco supermarkets.
Gerry Ford, the chairman and CEO of Caffè Nero, said he plans to retain the Harris + Hoole brand "for the foreseeable future" with a view to expanding it over the coming years.
He said: "The acquisition is the start of an exciting new journey for both Harris + Hoole and Caffè Nero. Harris + Hoole has a strong reputation for high quality coffee and that is what Caffè Nero is all about.
In a trading statement released yesterday (23 June) Tesco said it was "encouraged" by its progress in a challenging market as it reported a second consecutive quarter of higher sales.
Harris + Hoole launched in 2013 with a partnership between coffee chain Taylor St Baristas and Tesco.
The supermarket took full control of the company in February when it bought the remaining share.
Earlier this month Tesco announced the sale of its Giraffe restaurant chain to Boparan Restaurants Holdings (BRH). The supermarket also found buyers for Dobbies Garden Centres and Kipa, its Turkish retail business.
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