Brumby’s on the rise in the Middle East

Brumby’s on the rise in the Middle East

Leading New Zealand and Australian bakery franchise operator Brumby’s Bakeries Ltd will have stores opening across the Middle East after announcing its had reached an agreement for a local Master Franchisee in the region.

The ten-year agreement with Middle East consortium IIC Group covers member countries of the Gulf Co-Operation Council (GCC) - Saudi Arabia, Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates (UAE) – as well as Iran.

Brumby’s New Zealand head Rachel Casley said he expected the first Brumby’s stores to open in the Middle East in the 2006-2007 financial year.

“Since signing an initial memorandum of understanding late last year we have been finalising our business plan and conducting extensive market research,” Ms Casley.

“It is clear that there is a tremendous potential in the Middle East and we expect to see considerable store growth during the next decade.
“Populations in the Middle-East are young, with two thirds of the population under 25, with increasing demand for convenience foods.”
Ms Casley said Brumby’s – which currently has 317 stores including 22 in New Zealand – would continue to investigate suitable opportunities in other countries.

“Apart from the Middle East, over the past 12 months we have conducted pre-entry studies and held discussions with potential master franchisees in Thailand, Malaysia, Singapore, China, Fiji, and South Africa,” Ms Casley said.

Brumby’s is listed on the Bendigo Stock Exchange.

ENDS

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