Franchisor Retail Food Group expects to boost its earnings per share this year by 50 per cent, after swallowing the Michel’s Pattisserie chain and Brumby’s Bakeries.
The group, which includes Brumby’s, Donut King and bb’s cafes will become Australia’s largest ‘homegrown’ food franchisor with the acquisition of The Michel’s Group Australia, which includes 340 Australian franchised outlets and six in New Zealand.
RFG updated its earnings guidance after announcing its due diligence enquiries on the $88 million cash and scrip offer have been completed. The deal is due to be completed in November.
Retail Food Group said while it is still reviewing the funding structure for the Michel’s Food Group acquisition it expects earnings per share to increase for fiscal 2008.
irshad ul haq on October 3rd, 2007 at 12:38 am
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