Australian retail food brand manager and franchisor Retail Food Group Limited announced its entry into a conditional Sale & Purchase Agreement (SPA) to acquire the Crust Gourmet Pizza Bars brand system.
First established in Sydney in late 2001, Crust has grown to 119 outlets in the take away pizza market. Whilst based predominantly in NSW and Victoria, the Crust system now includes a presence in New Zealand, Singapore and, most recently, the U.S.
The transaction follows RFG’s acquisition of the 118 outlet Pizza Capers Gourmet Kitchen brand system in April 2012.
“Not only will the transaction consolidate another impressive retail food system under the company’s umbrella, it delivers on a number of strategic initiatives most important of which being the immediate scale provided by ownership of both the Crust and Pizza Capers brand systems; the further investment within the QSR category; and reduced reliance on shopping centers for outlet growth,” said RFG CEO Tony Alford.