THE CARLYLE GROUP INC.

(CG)
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Carlyle : provides c. £370m in debt financing for Caffè Nero

01/17/2022 | 03:25am EDT

London, UK - 17 January 2022 - Global investment firm Carlyle (NASDAQ: CG) today announced that its Global Credit platform has provided a debt financing package of c. £370 million to support the refinancing and future growth of The Caffè Nero Group (the "Group"), a leading operator of premium coffee shops.

Founded over 20 years ago by Gerry Ford, who remains CEO today, The Caffè Nero Group operates four premium coffee house brands: Caffè Nero, Coffee #1, Harris + Hoole, and Aroma. The Group has over 1,000 stores across 10 countries, of which c. 750 are based in the UK, and employs more than 7,700 people, with over 5,600 of these individuals based in the UK.

As a result of this transaction, the Group has reduced its debt exposure while strengthening the company's balance sheet and providing it with additional funds to support its growth plans. The ownership structure of the Group remains unchanged, with the majority shareholding remaining with Gerry Ford and his family and friends.

Gerry Ford, Founder & CEO of The Caffè Nero Group, said: "Our new capital structure will allow us to focus on future growth, and I very much look forward to working with Carlyle as we leverage their financial and strategic expertise to take the Caffè Nero brand to new heights."

Taj Sidhu, Head of European Illiquid Credit at Carlyle, said: "We look forward to supporting Caffè Nero Founder & CEO Gerry Ford and his team in their next phase of growth. This transaction is a great example of Carlyle's flexible capital and track record in privately negotiating capital solutions for founders and entrepreneurs."

Merrill Goulding, a Managing Director in Carlyle's Illiquid Credit platform, said: "We are delighted to partner with Caffè Nero, a much-loved high street brand thanks to its reputation for providing high-quality, premium coffee over several decades. We are excited to support the many growth opportunities that lie ahead for the company as it continues to capitalise on its competitive offering and market-leading positioning."

Within Carlyle's $66 billion Global Credit platform, its Illiquid Credit business pursues investments in privately negotiated capital solutions primarily for upper middle market borrowers, including both private equity sponsored and family or entrepreneur-owned companies.

ENDS

Media Contact:

Andrew Kenny
andrew.kenny@carlyle.com
+44 7816 176120

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $293 billion of assets under management as of September 30, 2021, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 26 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

Disclaimer

The Carlyle Group LP published this content on 17 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 January 2022 08:24:09 UTC.


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Financials (USD)
Sales 2022 4 170 M - -
Net income 2022 1 502 M - -
Net cash 2022 5 415 M - -
P/E ratio 2022 8,90x
Yield 2022 3,44%
Capitalization 13 584 M 13 584 M -
EV / Sales 2022 1,96x
EV / Sales 2023 1,27x
Nbr of Employees 1 850
Free-Float 65,4%
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Kewsong Lee Chief Executive Officer & Director
Curtis L. Buser Chief Financial Officer
William E. Conway Non-Executive Co-Chairman
David M. Rubenstein Non-Executive Co-Chairman
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