The 23-store Nottingham-based coffee group posted 27% year-on-year sales growth for the year ended 31 March 2024, with profits before tax rising 20%
.jpg.aspx?lang=en-GB)
200 Degrees currently operates 23 outlets across the UK | Photo credit: 200 Degrees Coffee
Nottingham-based 200 Degrees Coffee saw revenues and profits significantly grow in its last financial year before being acquired by The Nero Group.
The coffee roaster and café chain achieved 27% year-on-year sales growth in the 12 months ended 31 March 2024 to reach £13m ($16.2m), while profits before tax increased 20% to £879,000 ($1.1m).
200 Degrees, founded by Rob Darby and Tom Vincent in 2012, opened three net new stores during the reporting period and currently operates 23 outlets across the UK.
Led by Caffè Nero founder, Gerry Ford, The Nero Group acquired 200 Degrees for an undisclosed sum in October 2024. The premium coffee group, which also operates the Caffè Nero, Coffee#1, Harris+Hoole, FCB Coffee and Aroma brands, is currently exploring opportunities to scale 200 Degrees across the UK.
In December 2024, 200 Degrees Managing Director Stephen Fern stepped down from his position and has since been appointed Chief Financial Officer of Yorkshire-based accountancy firm SMH Group.