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

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

The deal, which includes CIBO Espresso’s 22 outlets in South Australia and intellectual property, is expected to be finalised by July 2025. Queensland-based RFG plans to invest AU$1.3m ($857,000) to rebrand the outlets into Gloria Jean’s sites – a move which would see the CIBO Espresso brand discontinued. 

“This acquisition aligns perfectly with our strategic goal to grow our core brands in the Café, Coffee, Bakery (CCB) channel and is an important step to deliver Gloria Jean’s bold ambition to become the most visited beverage destination in the world,” said Matt Marshall, CEO, RFG. 

Founded in 2000 by the founders of North Adelaide-based Italian restaurant, CIBO Ristorante, CIBO Espresso generates annual sales of AU$20m ($13.2m) from its 22 coffee shops.