Brumby’s Bakery on the market as parent company suffers multimillion-dollar hit

Brumby’s Bakery is now for sale after experiencing a multimillion-dollar loss last year. The bakery's parent company, Retail Food Group (RFG), released its financial results on Thursday, August 21, revealing a loss of $14.9 million for the 2024-2025 fiscal year.

In contrast, the company had reported a net profit after tax of $5.8 million in the previous year, according to Nightly.

Retail Food Group manages several brands, including Gloria Jeans, Crust Gourmet Pizza, Donut King and Beefy’s Pies.


The company said it had continued to divest the bulk of its company-owned sites in older brands so it could concentrate on Firehouse Subs, which is set to open its first Australian stores next year, and the booming Beefy’s Pies brand.

RFG will retain direct control of only a handful of outlets, including Donut King Burleigh Heads, Gloria Jean’s Robina and some Beefy’s Pies stores. All other sites will be franchise-operated.

Despite the financial loss, the group recorded domestic network sales of $505.4 million. During the year, 37 new local stores were opened, and the group plans to eventually grow each major brand to 200 locations in Australia, according to news.com.au.

RFG currently operates roughly 1250 outlets across 30 countries, with 38 openings in Australia and 93 new franchise sites internationally.

Brumby's Bakeries, often referred to simply as Brumby's, is a retail bakery chain located in Australia and New Zealand. It was founded in Victoria in 1975 by Roger Gillespie, who is also a co-founder of Bakers' Delight.

The first bakery, known as The Old Style Bread Centre, opened in Ashburton, Victoria. It quickly expanded across Australia and New Zealand. It was acquired by Retail Food Group in 2007.