Retail Food Group, which already owns Donut King, Michel’s Patisserie and Brumby’s Bakeries, has added another brand to its portfolio.
The retail food brand manager and franchisor has acquired Pizza Capers Gourmet Kitchen franchise system, which specialises in the sale of gourmet pizza.
RFG CEO Tony Alford said the transaction has been 18 months in the making.
“During this period it has become clear to RFG that Pizza Capers has distinguished itself within a highly competitive QSR segment and represents a brand that will both complement and enhance those franchise systems already under RFG stewardship,” he said.
“Pleasingly, the Vendors have also come to appreciate that RFG has the expertise to foster sustainable network growth outside of Pizza Capers’ traditional Queensland base whilst also providing the infrastructure necessary to service and support franchisees during challenging economic times.”
Pizza Capers was initially established by co-founders Anthony Russo and Scott Geiszler in 1996. They will remain with the business post settlement.
The franchise is now represented by 110 outlets predominantly based in South East Queensland (77) as well as regional Queensland (16), Victoria (7), NSW (3), ACT (2), South Australia (3), Tasmania (1) and Singapore (1).
This comes following RFG’s announcement in seeing a 6.7 per cent increase in first half year profits for 2012 from $13.6 million to $14.5 million. Meanwhile its core EBIT increased 7.9 per cent $24.7 million from $22.9 million.
As a result, the company said it remains comfortable with previous guidance of circa 10 per cent core NPAT growth over 2011 financial year.