| RFG deal takes the cake
FRANCHISOR Retail Food Group has continued acquiring by forking out $106 million, including debt, to snap up Michel's Group Australia. The move follows RFG spending $45 million to acquire baker Brumby's in a bitter battle concluded at the end of June. "It is a perfect fit and it now gives us a very strong national presence with 1027 stores throughout the country and in New Zealand," RFG managing director Tony Alford said yesterday. He said the company was actively looking for further acquisitions but it needed to offer good management. "We are not going out there buying (just) anything. Any other purchase would need to involve a solid company backed by good human resources and management," Mr Alford said. The share market welcomed the latest purchase, with RFG shares leaping 40.5 or 28 per cent to close at $1.84 on volume of 412,000 shares.
CoStar's Retail News Roundup: Sept. 23 to Sept. 29, 2007
This week in the Retail Roundup, CoStar reports on expansions and new concepts at Barney's, Pumpkin Patch, Who.A.U., Dick's Sporting Goods, and Dollar Tree; closings at Home Depot; bankruptcy at Bombay; new retail developments in VA, FL, GA, CA, MA, IN, MI, and NH; Acquisition activity at Hampton, Rouse's, Stripes, Party City, Finish Line and more; sustainability efforts at Hannaford, Costco and Tully's; new personnel at NAI Freidland, and more. Did you miss last week's CoStar Advisor retail story covering a dynamic property type, Retail Resorts? Follow this link to read, "RETAIL RESORTS: Exploring a Dynamic Property Type. In addition to appearing every week in the national news and retail news section of our web site, you may also receive the Retail News Roundup via email by contacting the editor, Sasha Pardy, at spardy@CoStar.comAlso, click hereto subscribe to CoStar's dedicated Retail RSS Feed.
Buy-in: Synergy HomeCare
The business: Synergy HomeCare of Kansas City, 5370 College Blvd., Suite 110, Overland Park; 913-451-7771; www.synergyhomecare.com. About the business: Synergy, a franchise operation that opened in March, provides in-home, nonmedical care to those requiring daily living assistance. The company has two office employees and 13 part-time caregivers. Owner: Sarah Hegarty Owner's role: "I perform all the administrative duties. I am in the office on a daily basis. I hire and train all caregivers. I also build the relationship with the potential client. I go out to each home and do an in-home assessment. I have a community relations representative who calls on the various hospitals, assisted-living facilities and nursing homes in the area." Why did you decide on buying a franchise rather than building a business from the ground up? "After looking at various franchises, Synergy had the most to offer for the cost.
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