Lenard’s, Australia’s largest specialty meat retailer has begun implementation of a multi faceted growth strategy aimed at capitalising on the increasing consumer preference for premium quality fresh food with the convenience of home preparation.
Lenard’s has announced the return of the remaining Master Franchise licenses of the South Australia/Northern Territory and Tasmania/Victoria regions. This follows the return of the Western Australia Master Franchise license earlier in 2008.
This key structural change in the core business will enable Lenard’s to place a greater emphasis on the growth of the traditional store base through existing and new Franchise Owners.
The second stage of the strategic plan is the announcement this week that Blue Sky Private Equity has shown its support for the strength of the Lenard’s business model by buying a stake in Lenard’s Group Holdings Pty Ltd to help fuel its expansion plans.
Robertson Brooks, Investment Director of Blue Sky Equity said that the Lenard’s deal presented a huge opportunity for Blue Sky which operates by investing in growth businesses in Queensland which offer a unique value proposition to the market.
The third stage in the strategic growth plan for Lenard’s is the launch of the new ‘Lenard’s Extra’ concept. “This is a natural extension of the already successful core business” commented Lenard Poulter, Founder and majority share holder 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 existing fresh and value added chicken products, as well as fresh and value-added beef, lamb and pork products.
An exciting new development within the Lenard’s Extra concept will be the ‘Lenard’s Kitchen’ branded range of pre-cooked beef, lamb, pork and chicken meals. This line of heat-and-eat products will be easy to prepare at home, and will be displayed in self serve counters in the new stores. This will enable customers to grab their dinner and go straight to our express checkouts. No queues, no waiting.
The first Lenard’s Extra store is planned to open at The Gap Village Shopping Centre in Brisbane in early August, with plans for more stores in Brisbane currently in progress.
“This is a very exciting time at Lenard’s. The establishment of the new Lenard’s Extra concept, bringing back the last of the Master Franchise territories and the continued development of our supermarket ‘store in store’ concept, are all projects designed to strengthen the business and provide future growth opportunities for all stakeholders, especially our existing Franchise Owners.” Lenard Poulter said.
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 of the Board. Lenard will assume an Executive Director’s role and continue to be very heavily involved in the day to day operations of the company together with Lenard’s CEO Bruce Myers, who is also an Executive Director.
- Return of Master Franchise Licenses.
- New capital to fund continued growth.
- New concept to drive further growth.
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It is Lenard’s unique value-adding concept that has ensured the Lenard’s system is growing rapidly. Lenard’s sells over 13 million chickens per year and has served more than 130 million customers since the first store opened in Queensland in 1987. Today, Lenard’s employs approximately 2,000 staff in 180 franchises across Australia.
For more information or interviews please contact:
Megan Drummond
Drummond Communications
T: (02) 9661 8292
E: megan@drummondcomms.com.au
Katie Truscott
Lenard's
T: (07) 3100 7818
E: katiet@lenards.com.au
