Retail Food Group upsizes capital raising to $190m

Sue MitchellColumnist

Oct 15, 2019 – 11.14am

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Food franchisor Retail Food Group, the owner of the Michel's Patisserie, Gloria Jean's and Donut King brands, is upsizing a capital raising after receiving strong support from institutional investors including Invesco.

After announcing plans last Friday to raise $160 million, Retail Food Group said on Tuesday it planned to raise $190 million, $170 million of which will be fully underwritten by Petra Capital and Shaw and Partners.

Sue Mitchell writes the fortnightly Window Shopping column for the Financial Review and has covered retailing for over 30 years.