18 December 2006 - Australia's Retail Food Group Ltd plans to acquire Brumby's Bakeries Holdings Ltd for about AUD 38 million (about USD 29.7 million).
Retail Food is offering Brumby’s shareholders a cash consideration of AUD 36 million and a AUD 2 million fully franked dividend payment.
"I am confident Retail Food Group will be an excellent fit with Brumby's franchisees and suppliers, given its extensive and successful experience with franchised food operations through its brands Donut King and bb's cafe in Australia and New Zealand," Brumby's Bakeries’ Chairman Terry O'Dwyer told the Australian Stock Exchange.