Retail Food Group, which own brands like Donut King and Michele’s Patisserie, has announced that it continues to watch for more acquisition opportunities.
This will add to its already existing list of acquisitions – Evolution Coffee Group in September 2011 and more recently Pizza Capers Gourmet Kitchen franchise.
As part of this announcement, the company has increased its finance arrangements with National Australia Bank from $95 million to $135 million and extending the facility’s life by 12 months to 30 September 2014.
“The company was delighted to further banking relationship with the NAB and secure its future financing requirements at such an early juncture,” CEO Tony Alford said.
“Not only will the increased facility assist in funding of the Pizza Capers acquisition, it provides sufficient headroom to position RFG for future acquisitive activity whilst providing shareholders with the comfort of an extended facility maturation to September 2014.”
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