Minor DKL Food Group acquires Veneziano, The Groove Train and Coffee Hit

Australian retail food franchisor, Minor DKL Food Group (Minor DKL) has acquired a controlling stake in Veneziano Coffee Roasters, The Groove Train and Coffee Hit. Minor DKL anticipates settlement of the share purchase agreements during September 2014, following the completion of the customary transaction conditions. As part of the agreements, the acquired businesses are to be grouped and operated collectively as VGC Food Group. “VGC Food Group will continue to be operated under the guidance and stewardship of founders Craig Dickson and Rocky Veneziano, supported by the infrastructure and resources of both Minor DKL throughout Australia and New Zealand, and more broadly throughout Asia in conjunction with our partner company, Thai-listed Minor International,” said Jason Ball, CEO at Minor DKL. Ball said the acquisitions comes after more than a year of due diligence, which established that the three businesses aligned with Minor DKL’s objective of becoming a global leader in retail coffee, food and franchising. “We are very excited to partner with Minor DKL and Minor International to continue to invest and grow our brands in Australia and enter markets in New Zealand and Asia,” said Craig Dickson, Managing Director at Veneziano Coffee Roasters. “Minor is known for successfully partnering with entrepreneurial founders thereby ensuring the founders’ principles and objectives are maintained, while providing infrastructure and resources to effectively grow the brands.” Minor DKL Food Group is the franchisor and intellectual property owner of The Coffee Club and Ribs & Rumps Restaurants, with more than 380 restaurants operating in 10 countries.