Triple Growth Strategy for Lenard's
It has bought back the master franchise licenses for South Australia/Northern Territory and Tasman ia/Victoria, following the Western Australia buy-back earlier this year. This key structural change in the core business will enable Lenard's chicken retailer to place a greater emphasis on the growth of the traditional store base through existing and new franchisees.
A second development is the purchase of a stake in the business by Blue Sky Private Equity, while the third stage is the launch of the Lenard's fast food franchise Extra concept which will introduce a line of ready-meals to the market.
"This is a natural extension of the already successful core business," said Lenard Poulter, founder and majority shareholder in Lenard's Group Holdings Pty Ltd.
Lenard's Extra will be a chain of company-owned stores selling a complete range of Lenard's meat products but with the addition of Lenard's Kitchen branded range of pre-cooked beef, lamb, pork and chicken meals displayed in self serve counters in the new stores.
The first Lenard's Extra store was scheduled for an August opening at The Gap Village Shopping Centre in Brisbane.
Mark Sowerby from Blue Sky Private Equity has been appointed a director of the Lenard's board, while Lenard Poulter has resigned as executive chairman to enable former Queensland deputy premier, Terry Mackenroth to be appointed as an independent chairman. Lenard will assume an executive director's role and continue to be heavily involved in the day to day operations of the company.
10.10.2008
FCA Member
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