Retail Food Group silences Eagle Boys acquisition rumours, pizza chain on the market
The Retail Food Group (RFG) has confirmed it is not currently engaged in any discussions to acquire Eagle Boys Pizza after its head office entered into voluntary administration late last week.
SV Partners were appointed as the administrators and have taken control of day-to-day operations in the Eagle Boys’ head office. SV Partners intends for the business to continue as usual whilst trying to sell the chain to a new owner.
Rumours that RFG, which owns numerus quick-service food chains in Australia, would acquire Eagle Boys were sparked this week in the aftermath of the voluntarily administration announcement. RFG however confirmed the rumours were untrue in a statement issued to the Australian Securities Exchange.
“Retail Food Group Limited has been made aware of speculation concerning RFG’s potential interest in the Eagle Boys Brand System,” RFG said in its statement.
“RFG is not currently engaged in any discussions with the owners or administrators of the Eagle Boys franchise system.”
RFG said it would keep the market appropriately informed in regards to any acquisitions it attempts to make.
Crust Pizza, Pizza Capers, Gloria Jeans, Doughnut King, Brumby’s Bakery and Michel’s Patisserie are all brands already owned by RFG.
Eagle Boys Pizza head office in voluntary administration but not franchised stores
Eagle Boys Pizza’s head office entered into voluntary administration last Friday but it has confirmed that its franchised stores will continue to operate as normal under the control of franchisees.
“The Eagle Boys management team is looking forward to the prospect of growing the brand under new ownership and would like to thank Eagle Boys customers, franchisees and team members for their ongoing support during this time,” Eagle Boys said in announcing its voluntary administration.
Eagle Boys was established in 1987 in Albury in regional New South Wales. Today the chain has stores in all states and territories in Australia except for Tasmania. In recent years it has sold its pizzas through Night Owl convince stores, airports, Hoyts Cinemas and Jetstar flights. In March 2016, Eagle Boys also began experimenting with “virtual drive-thurs”.