Retail Food Group acquisitions under wraps
Australian retail food brand manager and franchisor, the publicly listed Retail Food Group Limited (RFG) has announced it is in the midst of a number of acquisitions which, if successful, will raise the number of food outlets it operates by around 15 per cent.
RFG currently owns the Australian franchises of Donut King, Michel’s Patisserie, Brumby’s Bakeries, bb’s cafe, Esquires, and Big Dad’s Pies.
The latest announcement was made by RFG’s CEO, Anthony Alford, at the company’s Annual General Meeting on 25 November 2011.
At the meeting, Mr Alford told shareholders that the company had “very recently entered into a number of agreements and initiatives” and that – if successfully completed – these will result in:
- additional franchise system acquisitions;
- coffee asset enlargement by including allied products
- expansion of vertical integration capabilities;
- additional National Supply solutions and bakery consolidation; and
- the granting of further international licenses.
Mr Alford said further details could not presently be given about the acquisitions due to “commercial sensitivities and requirements”. The acquisitions would each be subject to completion of formal due diligence and, collectively, result in outlet population expansion of about 15 per cent.