Retail Food Group Limited
ASX:RFG ISIN:AU000000RFG3
Retail Food Group is a leading Australian retail food brand manager and franchisor. It is the franchisor and intellectual property owner of the Michel's Patisserie, Brumby's Bakeries, Donut King and bb's café systems. As at 14 December 2007, there was a total of 1047 franchised outlets under RFG's stewardship comprising 301 Donut King outlets established in Australia with a further total of 70 bb's café outlets, 326 Brumby's Bakeries outlets and 350 Michel's Patisserie outlets established within Australia and New Zealand.
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The Australian shares closed lower on Thursday despite mining shares were stronger on expectations of higher iron ore prices. The fall was largely due to weakness in financial stocks. The market saw some profit-taking selling in miners in the afternoon. At the close, the benchmark S&P/ASX 200 index fell 22.0 points, or 0.45 per cent, to 4899.4 points, while the broader All Ordinaries index lost 16.3 points, or 0.33 per cent, to 4930.5 points.
Yesterday the Australian market proved defiant and held its ground despite massive falls in the US, according to CMC Markets. Interestingly, the share market didn't react too much to the interest rate decision.
Australian shares yesterday closed higher after the lift of commodities prices. The benchmark S&P/ASX200 index was up 38.4 points, or 1.08 per cent, at 3,589.3, while the broader All Ordinaries index advanced 36.1 points, or 1.03 per cent, to 3,531 after a positive lead from Wall Street on Friday.
On 7 September 2007 Retail Food Group Limited (RFG) announced that it had entered into a Scrip & Cash Terms Agreement (SCTA) with the shareholders of The Michel's System Australia Pty Ltd (TMGA), the intellectual property owner and manager of the Michel's Patisserie franchise system.
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