Australia’s Retail Food Group acquires CIBO Espresso for AU$2.7m

CIBO Espresso generates annual sales of AU$20m ($13.2m) from its 22 coffee shops | Photo credit: CIBO Espresso/Facebook

Queensland-based Retail Food Group plans to convert CIBO Espresso’s 22 franchised stores into Gloria Jean’s coffee shops 

Australian franchise group Retail Food Group (RFG) has acquired Adelaide-based coffee chain CIBO Espresso from Retail Zoo for AU$2.7m ($1.7m).

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