Retail Food Group boosts finance for acquisitions

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The owner of food brands Brumby’s Bakeries and Donut King has increased its finance arrangements to allow for more acquisitions.

Retail Food Group (RFG) has increased its loan facility with National Australia Bank by $40 million to $135 million, and extended the facility’s life by 12 months to the end of September 2014.

The company recently announced it would take over Pizza Capers, and has foreshadowed more acquisitions in the future.

“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,” chief executive Tony Alford said in a statement.

RFG also said it had restructured its business so its divisions were now aligned to the brands it owns, improving efficiency.

The company also owns Michel’s Patisserie, bb’s cafe and Esquires Coffee House.