Retail Food Group announces divestment of Brumby’s Bakery
The brand has 70 outlets in Australia.
Retail Food Group has announced that it has decided to explore options for the divestment of Brumby’s Bakery after reporting a $14.9m statutory net profit after tax loss for FY2025.
According to RFG, annual impairment testing of the intangibles associated with Brumby’s, including brand assets and goodwill, has resulted in a non-cash impairment of $12.2m.
"We determined that Brumby’s is no longer a key growth driver, having regard to the other levers now at our disposal, including Firehouse Subs, Beefy’s Pies and international expansion,” Peter George, RFG chairman, said in a letter to shareholders.
RFG said that Brumby’s remains a profitable contributor to the CCB segment but has seen outlet declines over an extended period.
