Retail Food Group acquired Gloria Jean’s Coffees for USD163.5 million on Friday, sealing itself as Australia’s coffee Goliath in terms of franchise brands, store counts and roasting capacity.
The company already ran 519 coffee outlets in Australia and 183 internationally under the brands Michel’s Patisserie, Esquires, BB’s, Coffee Guy and Cafe2U.
Snapping up of Gloria Jean’s upped its store count by 358 domestically and 420 around the world, making Retail Food Group the "clear leader in retail food franchises specialising in coffee", said chief executive Tony Alford.
(Source: The Sydney Morning Herald Online )