Caffè Nero says growth is ‘steady’ but coffee prices are likely to rise

Founder of family-owned firm says it will pause acquisitions after takeover of 15 Compass Coffee stores in US

Caffe Nero will continue opening new shops in the UK and overseas, but has warned coffee prices are likely to keep rising as the war in Iran and higher staffing costs feed through.

The family-owned business, which has just bought the 15-store Compass Coffee based in Washington DC to convert to its main brand, is aiming to open as many as 30 UK stores and between 50 and 70 more this year across the 10 other countries it operates in.