Caffè Nero has ended a takeover bid by petrol station forecourt operator EG Group after successfully completing £330m ($453m) debt refinancing. According to a report in the Financial Times, Caffè Nero has secured a six-year loan package from HSBC, Santander and Carlyle Group, alongside and undrawn credit facility of £85m that could be used to facilitate further international expansion.
Indian boutique coffee chain Third Wave Coffee has secured $6m investment to help facilitate its ambitious expansion plans. New investors include Sujeet Kumar, co-founder of Indian B2B trade platform, Udaan, Arpan Sheth, a senior leader at management consultants, Bain & Company, and Ayyappan Rajagopal, CEO of flight booking website, Cleartrip.
Oat has unseated coconut as UK consumers’ preferred dairy alternative in coffee shops. In a survey of more than 50,000 UK consumers conducted by World Coffee Portal, 16% indicated they had tried oat milk in a coffee shop over the last 12 months, ahead of coconut and almond at 12%, and soya at 9%.