Caffe Nero, the coffee-bar group led by Gerry Ford, is reportedly in talks to buy the UK arm of Boulangerie Paul, the coffee house and patisserie chain.
According to the Sunday Express, the group has entered exclusive talks to purchase the UK franchise partner of the eponymous French business that was founded in 1889 and has 300 locations worldwide.
Paul operates more than 20 sites in the UK, predominantly in London, having debuted in the capital in 2000.
Cavendish Corporate Finance was in April appointed to seek a buyer for the business – expected to produce underlying profits of about £3m in the current year.
It is thought that a deal could value the operation at more than £20m.
Paul UK has the franchise to develop the business across the UK and it is thought that the existing owner was originally seeking a private-equity style deal to help fund the chain’s expansion.
