Retail Food Group enters Quick Service Restaurant sector with Pizza Capers acquisition
One of Australia’s largest food retail companies, Retail Food Group, has acquired Pizza Capers, marking its entry into the Quick Service Restaurant sector.
Retail Food Group announced on Tuesday that it had entered an agreement to acquire Pizza Capers, which currently owns 110 franchised outlets in Australia.
The company is currently the intellectual property owner, franchisor and manager of the Donut King, Michel’s Patisserie, Brumby’s Bakeries, bb’s cafe, Esquires Coffee Houses and Big Dad’s Pies franchise systems.
In a media statement, Retail Food Group’s chief executive, Tony Alford said, “The transaction represents the culmination of an 18-month engagement, during which each party has become well acquainted with the others business and operational philosophy.”
Pizza Capers, which focuses on the gourmet pizza market, was established in Brisbane in 1996.
The purchase is based on a multiple of seven times Pizza Capers’ anticipated contribution of AU$4.3 million to Retail Food Group fiscal 2013 earnings before interest and taxation.