NEW HEADS AT ALLIED BRANDS

Written on the 23 July 2010

NEW HEADS AT ALLIED BRANDS

LISTED ‘brandchisor’ Allied Brands (ABQ) is hoping a leadership shuffle will bring about some investor confidence in the group.

Following the resignation of CEO Shane Radbone and managing director Peter Graham (pictured) in the past two months, the company behind confectionary outlet Baskin & Robbins and Kenny’s Cardiology, is in a rebuilding phase after a tough 12 months.

Graham will remain on the board as a non-executive director. He says basic businesses are still strong and that his confidence in the company remains.

“At 62 years of age, I heard the bell ringing sometime ago. If you don’t move out of the way and let the young guys through, they will run over you anyway,” says Graham.

The company raised capital in the US earlier in the year to embark on a robust rebranding strategy.

New York asset management firm SpringTree Global Investors, credited up to $4.9 million of its special operations fund to Allied Brands and its recently established franchising services division.

The funding became available after Allied Brands announced a $150,000 acquisition of four Coffee Bean and Tea Leaf retails stores.

The company had a slight win in combating its falling share price with department store giant Big W taking on its Baskin & Robbins confectionary products. The deal resulted in three Baskin & Robbins products trialled in 50 Big W stores nation-wide.

Chief operating officer Sean Corbin is acting CEO as the group looks to consolidate.


Latest News

VITA GROUP POSTS STEADY RESULTS DESPITE ROUGH YEAR

IT'S no secret Vita Group (ASX: VTG) has had a testing year, however the company has still managed to deliver ...

KOGAN BREAKS FORECASTS IN ITS FIRST YEAR OF PUBLICLY LISTED TRADE

RAISING the bar high in its first year as a publicly listed company, Kogan.com (ASX: KGN) has smashed its forecast...

CAMPLIFY MOTORS INTO THE UK MARKET

CARAVAN hire and RV sharing community Camplify has made its move in the European market, establishing its first op...

COCHLEAR R&D INVESTMENT DRIVES NEW PRODUCTS AND BOOSTS PROFIT AND REVENUE

COCHLEAR (ASX: COH) has boosted its 2017 full year net profit by 18 percent to $223.6 million and has forecast furthe...

Related News

WESFARMERS BOOKS BUMPER PROFIT BUT SUPERMARKET WAR HITS COLES' BOTTOM LINE

SUPERMARKET giant Coles has posted its biggest slide in earnings since it was acquired by Wesfarmers (ASX: WES) 10 ye...

ANALYSTS PREDICT WHAT AUSSIE LIVING IS LIKELY TO BECOME IN THE NEXT CENTURY

AS THE Australian population continues to grow, analysts are predicting what the country is likely to look like wi...

SEVEN WEST REPORTS MASSIVE LOSS AND CUTS CEO TIM WORNER'S PAY PACKET BY $450K

SEVEN West Media (ASX: SWM) has posted a full-year loss of $744.3 million and cut CEO Tim Worner's pay packet by ...

HOW MAKING MISTAKES AND PASSION SCORED WEIGHT LOSS PARTNERS A DEAL WITH SHARK TANK'S JANINE ALLIS

THEY partnered up to provide a scientific and targeted approach to dieting, and Kate Save and Geoff Draper cut Sha...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter