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23 August 2023

Retail Food Group (RFG): Growth back on the menu

We initiate coverage of Retail Food Group (RFG) with a Buy rating at a $0.13/share Price Target. As Australia’s largest multi-brand retail food franchise owner in Quick service restaurants (QSR) and Coffee, the company franchises and operates stores in mass brands, Donut King & Gloria Jeans and other mid-market brands such as Crust Pizza in ANZ, US and EMEA.