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

WOOLWORTHS CLAIMS LEGAL VICTORY IN STOUSH WITH LOWE'S

SUPERMARKET giant Woolworths (ASX: WOW) has been given the go-ahead to sell its Masters property assets after winn...

DOMINO'S PIZZA EMPLOYEES OFFERED A SLICE OF THE PIE

DOMINO'S Pizza (ASX: DMP) has launched an employee share acquisition plan which will give its 26,000 staff the...

PRICELINE STORE ROLLOUT BOOSTS API'S FULL YEAR PROFIT FORECAST

Australian Pharmaceutical Industries (ASX: API) has booked a rise in half year net profit of $29.1 million on the bac...

CITY DWELLERS SETTING EYES ON REDCLIFFE AS PROPERTY SEACHANGE BECKONS

IT MAY be cool by the sea at Redcliffe, however strong sales at Kyko Group's Mon Komo development prove that t...

Related News

FURNITURE DISRUPTOR SET TO SHARE HIS ONE OF A KIND BUSINESS MODEL

IT'S no secret that Australians love homemaking. Their ceaseless quest to create the perfect place to call hom...

WEEDING OUT THE ASX'S BURGEONING CANNABIS TREND: 8 COMPANIES TO WATCH

A NICHE is budding on the ASX in the form of medical cannabis, an industry which has been on the country's rad...

FRESH CLASS ACTION TO REVEAL ANOTHER SIDE OF SLATER AND GORDON DOWNFALL

ACA LAWYERS has issued a formal letter of demand to Andrew Grech (pictured), managing director of Slater and Gordo...

STARSHIPS WERE MEANT TO DELIVER DOMINO'S PIZZA

NICKI Minaj may have been off the mark when she declared 'starships were meant to fly'. However, she m...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter