VIL
15/04/2015 10:28
GENERAL
NOT PRICE SENSITIVE
REL: 1028 HRS Veritas Investments Limited
GENERAL: VIL: First 'Mad Butcher Mini' store opens
NZX Release
15 April 2015
First 'Mad Butcher Mini' store opens
New opportunities for franchise expansion
New Zealand's first 'Mad Butcher Mini' concept store was opened in Mosgiel
this week by an existing Mad Butcher franchisee.
The 'Mad Butcher Mini' in Mosgiel is 15 kilometres west of Dunedin's city
centre and provides access to a local market of some 10,000 residents.
Mad Butcher chief executive and Veritas director Michael Morton says the
'Mini' concept store presents a new growth opportunity for other franchisees.
"The parent store in Dunedin handles the bulk of meat processing and storage
of other products, allowing the 'Mini' store to operate as an outpost with a
sole butcher on site."
"This enables us to expand our footprint nationally and increase trade in
areas not big enough for traditional size stores. It's a great opportunity
for franchisees to expand their business and reach more customers."
The 'Mad Butcher Mini' store offers all advertised Mad Butcher promotions
including a limited range of fresh NZ quality mark lamb, pork, beef, Tegel
chicken, sausages and bacon. Also available is a range of popular frozen
products and a limited grocery selection.
Mad Butcher Dunedin and Mosgiel owner, Tony Coulston, says he has already
received positive feedback from the community since the store opened its
doors.
"It's the best of both worlds. We get economies of scale with most of the
processing done in the main store in Dunedin and there is always a butcher on
site ready to cut anything for anyone at any time," Coulston says.
"Customers can also order products not available in the Mosgiel store to be
delivered from Dunedin within 24 hours."
Three other franchisees have expressed interest in opening 'Mad Butcher Mini'
stores and are currently looking for suitable sites.
-ends-
About Veritas Investments Limited
Veritas Investments is an NZX Main Board-listed investment company focusing
in the Food and Beverage sector. The shell company was formed in December
2011 and made its first acquisition of the Mad Butcher franchisor business in
May 2013 through a reverse acquisition transaction. A further investment was
made in December 2013 for 50% of Kiwi Pacific Foods Limited. In September
2014 Veritas acquired the Nosh Food Market business. In November 2014 Veritas
acquired The Better Bar Company group business. www.veritasinvestments.co.nz
For further information, contact:
Michael Morton, Chief Executive, Mad Butcher; Director, Veritas Investments,
+64 21 725 458
Mark Darrow, Chairman, Veritas Investments, +64 21 88 88 58
End CA:00263115 For:VIL Type:GENERAL Time:2015-04-15 10:28:26
