Retail Zoo
| Company type | Private |
|---|---|
| Industry | Fast food |
| Founded | 2000 |
| Founder | Janine and Jeff Allis |
| Revenue | $178 million (2022) |
| $15 million (2022) | |
| Parent | Adamantem Capital |
Retail Zoo is an Australian company that owns multiple major restaurant chains, including Boost Juice, Betty’s Burgers and Salsa's Fresh Mex Grill.[1] It also previously owned the Hatch Chicken Shop and Cibo Espresso chains.
Valued at around half a billion dollars,[2] it is a private company that 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.[2]
In 2023, Australian private equity firm Adamantem Capital acquired a majority stake in the company for $350 million.[3][4][5]
History
[edit | edit source]Retail Zoo was founded by Janine and Jeff Allis in 2000.[6] The company acquired the Cibo Espresso coffee chain in December 2012 and launched the Hatch Chicken Shop chain in 2013.[7][8]
A majority stake in Retail Zoo was later sold to private equity investor Riverside Company. In 2014 Riverside's shareholding was purchased by Bain Capital.[9][10] 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.[11][12][13][14] In 2022 the company lodged documents with the Australian Securities & Investments Commission to change its status to a public company.[1] However, it was later acquired by Australian private equity firm Adamantem Capital following a $225m capital raise through debt syndication by the Commonwealth Bank.[15]
Its reported valuation history is as follows:
| Date | Valuation | Source |
|---|---|---|
| 2014 | majority stake = $185m | SmartCompany[4] |
| October 2019 | $482m | Goldman Sachs estimate (sponsor-broker)[16] |
| April 2022 | $400m | AFR estimate[2] |
| February 2023 | majority stake = $350m | SmartCompany[4] |
In November 2024, Retail Zoo sold the Cibo Espresso chain to Retail Food Group for A$2.7 million.[17]
References
[edit | edit source]- ^ a b Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ a b c Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ a b c Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).