Retail Zoo Explained

Type:Private
Industry:Fast food
Founded:2000
Founder:Janine and Jeff Allis
Revenue:$178 million
Revenue Year:2022
Net Income:$15 million
Net Income Year:2022
Parent:Adamantem Capital

Retail Zoo is an Australian company. It is the owner of multiple major restaurant chains, including Boost Juice, Betty’s Burgers, Cibo Espresso, Salsa's Fresh Mex Grill.[1]

It is a private company valued at around half a billion dollars.[2] The company has explored a public listing on at least two occasions, first exploring and then putting on pause the idea in 2019; before resuming its pursuit of an IPO again in 2022. In February 2023, Australian private equity firm Adamantem Capital acquired a majority stake in the company for $350 million.[3] [4]

History

Retail Zoo was founded by Janine and Jeff Allis in 2000.[5] A majority stake was later sold to private equity investor Riverside Company. In 2014 Riverside's shareholding was purchased by Bain Capital.[6] [7] During this time, it explored a public listing on the ASX in 2019, but the listing ultimately didn't go ahead that year; and remained owned by Bain.[8] [9] [10] [11] In 2022 the company lodged documents with the Australian Securities & Investments Commission to change its status to a public company. However, it was later acquired by Australian private equity firm Adamantem Capital following a $225m capital raise through debt syndication by the Commonwealth Bank.[12]

Its reported valuation history is as follows:

!Date!$Valuation!Source
2014majority stake = $185mSmartCompany
Oct, 2019$482mGoldman Sachs estimate (sponsor-broker)[13]
Apr, 2022$400mAFR estimate
Feb, 2023majority stake = $350mSmartCompany

Notes and References

  1. News: Macdonald . Anthony . 9 March 2022 . Boost for earnings now, Betty's for growth: Retail Zoo update . Australian Financial Review.
  2. News: Bain's Retail Zoo tests appetite for ASX float . AFR . Retail Zoo’s private equity owner is ready to give its $400 million-plus float plans a boost..
  3. News: Macdonald . Anthony . 7 February 2023 . Adamantem Capital hunts $200m debt for Retail Zoo buyout . Australian Financial Review .
  4. News: Van . Tong . 7 February 2023 . Bain Capital sells stake in Boost Juice, Betty's Burgers parent in a deal worth $350 million . SmartCompany .
  5. News: Retail Zoo pair's $14.5m slice of paradise . The Australian. The entrepreneurial Retail Zoo co-founders, Janine and Jeff Allis, have spent a record $14.5m to buy at Bilgola Beach on Sydney’s northern beaches..
  6. News: 6 May 2014 . Bain Capital and Janine Allis to buy Boost Juice . Sydney Morning Herald.
  7. News: Thompson . Sarah . 17 March 2019 . Three banks in line for Bain Capital's Retail Zoo . Australian Financial Review .
  8. News: Retail Zoo IPO on the cards . The Australian . Investment bank Goldman Sachs is believed to be in the box seat to list Bain Capital’s Retail Zoo business..
  9. News: Mitchell . Sue . 23 June 2019 . IPO hopeful Retail Zoo to upsize Boost Juice, Betty's Burgers . Australian Financial Review .
  10. News: Collins Foods gets taste for Retail Zoo as listing looms . The Australian . Australian-listed KFC and Taco Bell operator Collins Foods has been weighing an acquisition of Boost Juice owner Retail Zoo from Bain Capital..
  11. News: 23 October 2019 . Bain Capital delays Retail Zoo IPO . Australian Financial Review .
  12. News: 27 February 2023 . CBA seeks buyers for $225m Retail Zoo debt, bank meeting Wednesday . Australian Financial Review .
  13. News: Thompson . Sarah . Macdonald . Anthony . 1 Oct 2019 . Retail Zoo valued at as much as $482m: Goldman Sachs . Australian Financial Review .

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Retail Zoo".

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