Retail Food Group Posts Record Profits & Announces New Acquisition
Global multi-brand retail food franchisor Retail Food Group (RFG) has today celebrated its tenth year on the Australian Securities Exchange (ASX) by posting record profit and announcing a new transformational acquisition.
The Company announced its full year accounts to 30 June 2016, achieving record underlying Net Profit After Tax of $66.4m, a 20.5% increase on the previous period, and the product of record FY16 EBITDA of $110.2m, an increase of 24% on FY15.
RFG Managing Director Andre Nell said the Company’s exceptional performance was driven by the Group’s increasingly diverse and global business.
“RFG’s franchise operations continue to flourish with 258 new outlets commissioned across the globe during FY16, including 112 in Australia, 69 in Asia and 41 in Europe, our three highest growth regions,” said Mr. Nell.
“Gloria Jean’s Coffees continues to be our major international system and a new license has been granted to take the Donut King brand into the Middle East.”
Well known for achieving growth via strategic M&A programs, RFG has grown from a fledgling Australian franchisor operating solely in the franchising sector to a global enterprise valued at over $1 billion with interests in retail food franchising, coffee and allied beverage manufacturing and global brand licencing.
Mr. Nell said the RFG’s entry into a Share Purchase Agreement to acquire Australian food service and manufacturing business Hudson Pacific Corporation marked the Group’s natural progression into a full service food and beverage company.
“The acquisition provides RFG immediate expertise and scale in food service, dairy processing and bakery manufacture, offering benefits for both franchisees and wholesale customers through an enhanced procurement, manufacturing and distribution offering,” he said.
About Retail Food Group Limited :
RFG owns the Donut King, Brumby’s Bakery, Michel’s Patisserie, bb’s Café, Esquires, Gloria Jean’s Coffees, It’s A Grind, The Coffee Guy, Café2U, Pizza Capers Gourmet Kitchen and Crust Gourmet Pizza Bar franchise systems. In addition, the Company is a significant wholesale coffee roaster supplying existing Brand Systems and third party accounts under the Di Bella Coffee, Evolution Coffee Roasters Group and Roasting Australia coffee manufacturing brands.
For further information, interviews or images contact:
Amy Smith, +61 400 137 704
Corporate Communications Manager
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