Ice cream maker Allied Brands has today (Thursday) announced that it has been unable to reach a satisfactory agreement for the acquisition of the Retail Brands Group, that is the Wendy's Ice Cream and Quiznos chains.

Whilst discussions will continue, the board of ABL has taken the decision to expense in the December half year the costs of due diligence and other expenses relating to the proposed acquisition of approximately AUD650,000, (US$486,000) the company said. This will result in a loss for the six months to 6 December 2005.

Allied Brands also said that the summer season had started very well.