Brumby's Bakeries has signed a Master Franchise agreement with IIC Group which grants the group the rights to develop its concept across the Middle East. Brumby's, which is established in over 300 locations in Australia and New Zealand, is a specialty bread retailer which founded its original store in 1975.
"Since signing an initial memorandum of understanding late last year we have been finalising our business plan and conducting extensive market research," says Brumby's Bakeries Managing Director Michael Sherlock. "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.
"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."
Published: 19 July 2006
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