15 March 2019
RESPONSE TO FRANCHISING INQUIRY FINDINGS
Retail Food Group Limited (RFG) refers to the release of the “Fairness in Franchising” Report by the Federal Parliamentary Joint Committee on Corporations and Financial Services.
While RFG is still studying the Committee’s full report and details, RFG supports any changes which will be of benefit to the franchising industry.
Importantly, RFG notes that the success of its franchise network is its major focus and in line with this has already conducted its own extensive reviews and improvements of its own policies and practices to better support its franchisees.
RFG has implemented a Board renewal strategy and has significantly changed and strengthened its senior leadership team. Since November, the Company is under new executive management led by turnaround expert Executive Chairman Peter George who is driving a range of initiatives to better support, connect and benefit RFG’s franchisees and improve services to customers.
RFG’s Executive Chairman Peter George said, “The current management team and Board completely understand that RFG’s future success is directly linked to the profitability of its franchisees. We have instituted a comprehensive program of investment and improvement to materially help existing and new franchisees grow and prosper.”
Regarding recommendation 4.2 of the report, RFG has an established history of cooperation with regulators and takes its compliance with all of its legal obligations extremely seriously.
ENDS
For further information, interviews or images, please contact:
Belinda Hamilton, Chief Communications Officer, 0487 700 048 or belinda.hamilton@rfg.com.au
About Retail Food Group Limited:
RFG is a global food and beverage company headquartered in Queensland. It is Australia’s largest multi-brand retail food franchise owner and a roaster and supplier of high-quality coffee products. The Company also operates in the foodservice, dairy processing and wholesale bakery sectors. For more information about RFG visit: www.rfg.com.au