Retail Food Group is buying coffee roaster Di Bella, just a month after the company bought the Gloria Jean’s cafe chain.
The deal was announced at Retail Food Group’s annual general meeting for shareholders on Tuesday.
Managing director and chief executive Tony Alford said Retail Food Group would pay an initial $30 million for Di Bella.
An extra $17 million is payable upon achievement of certain milestones during the next three financial years.
“(Di Bella) complements and extends the company’s existing market penetration by providing the group with a reputable specialist coffee brand well known within wholesale and retail coffee channels,” he told shareholders at Tuesday’s annual general meeting.
“Di Bella Coffee and Gloria Jean’s Coffees Group will be simultaneously integrated into RFG by a dedicated alignment and integration team.”
Retail Food Group is one of Australia’s largest retail food brand managers, franchisors and wholesale coffee roasters.
A leading specialty coffee roaster in Australia, Di Bella has its Head Office in Bowen Hills as well as retail roasting warehouses in Brisbane, Melbourne, Sydney and Perth.
