Key Milestones

    2017
    – Focus on debt repayment and asset release
    – Focus on profitability for the business
    – Continuation of asset sweating and maintenance
    – Settlement of FCMB loan
    – Issuance of convertible loans
    – Sale of Food Concepts 14.29% stake in FCPL to Pioneer Foods

    2016
    – Introduction of value meal offering
    – Focus on asset sweating & maintenance
    – Resolution of the UBA issue
    – Driving volumes
    – Managing cashflows
    – Financial discipline and accountability
    – Focus on supply chain efficiency generation
    – Operational excellence
    – Focus on people capability
    – Adoption of good corporate governance
    – Appointment of new chairman
    2015
    – Demerger of the Mass Market  division (Butterfield) into FCPL- a 100% subsidiary of Food Concept
    – Investment by Pioneer Foods into FCPL diluting Food Concepts Plc’s stake to 49.9%
    – Additional investment by ADPI Holding 9 via a convertible loan into the business resulting in some new store openings and revamps
    – Introduction of the Express and Drive thru store concepts
    – IT & Systems support for decision making (ICG)
    2014
    – Recruited a new CEO & CFO for the business
    – The former CEO became the Chairman of the board
    2013
    – The Company adopted IFRS
    2012
    – Business demerged the Free Range Farms division into a stand-alone Company
    – ADPI Holding 9 (a fund of DPI) invested in Food Concept Plc
    2011
    -IFC invested in the business for strategic expansion
    2010
    – Launched the Pizza Republic
    – Opened our 65th CR store
    – Oracle implementation
    2009
    – Launched Free Range Farms
    – Opened our 50th CR store & 9th Butterfield Bakery
    – Launched Central Kitchen
    – Awarded ISO certification
    2008
    – Food Concept became a Public Liability Company
    – Opened our 1st CR store in Ghana
    2007
    – Launched 1st Franchised outlet
    2006
    – Opened Reeds Thai Fusion Restaurant & Lounge
    2005
    – Opened our 10th CR store
    2004
    – Developed & Launched Chicken Republic
    2003
    – Launched Butterfield Bakery in Nigeria
    2002
    – Developed & launched Scoops Ice-cream
    2001
    – Pioneered the food court concept in Nigeria with St. Elmo’s Pizzeria & Chicken Licken

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