The $164 million takeover of coffee chain Gloria Jean’s by the company behind Donut King and Michel’s Patisserie has been approved by shareholders.

Retail Food Group announced its purchase of the global business in October and has since finalised the agreement, and shareholders on Monday approved the financial arrangements involved in the deal.

They also approved the arrangements of its $30 million plus takeover of coffee roaster Di Bella, which will further grow Retail Food Group’s expansion into the coffee industry.

The group’s other businesses include Brumby’s Bakery and pizza chains Crust and Pizza Capers.

AAP