“Retail Food Group (RFG), the owner of Brumby’s, Donut King, and Michel’s, is to add the Pizza Capers chain to its stable. RFG on Tuesday said it had entered into a conditional agreement to acquire the Pizza Capers franchise system, which has 110 outlets throughout Australia, said Insider Retailing.com ‘The transaction represents the culmination of an 18-month engagement, during which each party has become well acquainted with the others business and operational philosophy,’ RFG CEO Tony Alford said in a statement.
The Pizza Capers system, which focuses on gourmet pizza and related products, was established in Brisbane in 1996. Seventy seven of the group’s 110 outlets are based in south east Queensland while the remaining stores are in regional Queensland, NSW, Victoria, ACT, South Australia, Tasmania and Singapore. The purchase transaction is based on a multiple of seven times Pizza Capers anticipated contribution of $4.3 million to Retail Food Group fiscal 2013 earnings before interest and taxation.