Retail Food Group acquires Pizza Capers

Pizza Capers co-founders Anthony Russo and Scott Geiszler will remain with the business even after the settlement.

Retail Food Group, announcing that it had entered into a conditional Share Sale & Purchase Agreement to acquire the Pizza Capers Gourmet Kitchen franchise system, said:

consideration for the transaction is based on a multiple of 7 times Pizza Capers’ anticipated contribution (of $4.3m) to RFG FY13 EBIT;
consistent with acquisition metrics previously advised to the Market, the transaction will be immediately Earnings Per Share (EPS) accretive;
the consideration payable will be settled from existing cash reserves and available debt facilities;
settlement is anticipated in or about April 2012.

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