Supermarket chain Franklins, which saw its 287 Australian stores sold off to sector rivals last year by its Hong Kong based parent Dairy Farm International Holdings, is to be relaunched with its brand name by in South African grocery giant Pick ‘n Pay.
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Pick `n Pay said that the launch will see 69 outlets in New South Wales retain the Franklins brand name and the “No Frills” product line, while other buyers of the discount store chain have merged outlets with their own brand.
MD Aubrey Zelinsky told Asia Pulse that the Franklins brand will be around for a while: “Make no mistake, we’re seriously back in business – we’re here to preserve the Franklins brand for all time.”
The ability of Pick ‘n Pay to retain the Franklins name and the No Frills products “were the deal breakers” in takeover discussions with Dairy Farm, he added. An aggressive advertising campaign for the outlets will start next week.
Zelinsky said that he expects first year sales of between A$900m (US$450m) and A$950m, and added “we will be reinvesting the profits back into the business”.
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By GlobalData
