Retail Zoo
{{Short description|Australian company}}
{{Infobox company
|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 and Salsa's Fresh Mex Grill.{{Cite news |last=Macdonald |first=Anthony |date=9 March 2022 |title=Boost for earnings now, Betty's for growth: Retail Zoo update |work=Australian Financial Review|url=https://www.afr.com/street-talk/boost-for-earnings-now-betty-s-for-growth-retail-zoo-update-20220509-p5ajr8}} It also owned Cibo Espresso prior to that chain's sale in 2024.{{cite web |url=https://www.beanscenemag.com.au/australian-cafe-chain-to-be-converted-into-gloria-jeans-stores/ |author=April Hawksworth|title=Australian café chain to be converted into Gloria Jean’s stores|date=November 8, 2024|journal=Bean Scene Magazine|accessdate=2025-03-13}}
It is a private company valued at around half a billion dollars.{{Cite news |title=Bain's Retail Zoo tests appetite for ASX float |work=AFR |url=https://www.afr.com/street-talk/retail-zoo-prepares-plumbing-sounds-out-investors-for-asx-float-20220418-p5ae84 |quote=Retail Zoo’s private equity owner is ready to give its $400 million-plus float plans a boost.}} 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.{{Cite news |last=Macdonald |first=Anthony |date=7 February 2023 |title=Adamantem Capital hunts $200m debt for Retail Zoo buyout |work=Australian Financial Review |url=https://www.afr.com/street-talk/adamantem-capital-hunts-200m-debt-for-retail-zoo-buyout-20230207-p5cigu}}{{Cite news |last=Van |first=Tong |date=7 February 2023 |title=Bain Capital sells stake in Boost Juice, Betty's Burgers parent in a deal worth $350 million |work=SmartCompany |url=https://www.smartcompany.com.au/finance/bain-capital-boost-juice-bettys-burgers-deal/}}
History
Retail Zoo was founded by Janine and Jeff Allis in 2000.{{Cite news |title=Retail Zoo pair's $14.5m slice of paradise |work=The Australian|url=https://www.theaustralian.com.au/business/property/retail-zoo-cofounders-janine-and-jeff-allis-buy-145m-slice-of-paradise-at-bilgoa-beach/news-story/4ecb3a352e990938742c9271f40cc98a |quote=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.}} A majority stake was later sold to private equity investor Riverside Company. In 2014 Riverside's shareholding was purchased by Bain Capital.{{Cite news |date=6 May 2014 |title=Bain Capital and Janine Allis to buy Boost Juice |work=Sydney Morning Herald|url=https://www.smh.com.au/business/bain-capital-and-janine-allis-to-buy-boost-juice-20140506-37t89.html}}{{Cite news |last=Thompson |first=Sarah |date=17 March 2019 |title=Three banks in line for Bain Capital's Retail Zoo |work=Australian Financial Review |url=https://www.afr.com/street-talk/three-banks-in-line-for-bain-capitals-retail-zoo-20190315-h1cf4h}} 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.{{Cite news |title=Retail Zoo IPO on the cards |work=The Australian |url=https://www.theaustralian.com.au/business/dataroom/retail-zoo-ipo-on-cards-as-bain-revives-plans-for-boost-juice-owner/news-story/18c1d1f7ebffb4934eac17d0b3d0eda6 |quote=Investment bank Goldman Sachs is believed to be in the box seat to list Bain Capital’s Retail Zoo business.}}{{Cite news |last=Mitchell |first=Sue |date=23 June 2019 |title=IPO hopeful Retail Zoo to upsize Boost Juice, Betty's Burgers |work=Australian Financial Review |url=https://www.afr.com/companies/retail/ipo-hopeful-retail-zoo-to-upsize-boost-juice-betty-s-burger-20190723-p529tq}}{{Cite news |title=Collins Foods gets taste for Retail Zoo as listing looms |work=The Australian |url=https://www.theaustralian.com.au/business/dataroom/collins-foods-gets-a-taste-for-retail-zoo-as-listing-looms/news-story/a482aebcd4fe721266b9fe0ec5a4866c |quote=Australian-listed KFC and Taco Bell operator Collins Foods has been weighing an acquisition of Boost Juice owner Retail Zoo from Bain Capital.}}{{Cite news |date=23 October 2019 |title=Bain Capital delays Retail Zoo IPO |work=Australian Financial Review |url=https://www.afr.com/street-talk/bain-capital-delays-retail-zoo-ipo-20191022-p532x7}} 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.{{Cite news |date=27 February 2023 |title=CBA seeks buyers for $225m Retail Zoo debt, bank meeting Wednesday |work=Australian Financial Review |url=https://www.afr.com/street-talk/cba-seeks-buyers-for-225m-retail-zoo-debt-bank-meeting-weds-20230227-p5cnyh}}
Its reported valuation history is as follows:
| class="wikitable"
|+ !Date !$Valuation !Source |
| 2014
|majority stake = $185m |
| Oct, 2019
|$482m |Goldman Sachs estimate (sponsor-broker){{Cite news |last1=Thompson |first1=Sarah |last2=Macdonald |first2=Anthony |date=1 Oct 2019 |title=Retail Zoo valued at as much as $482m: Goldman Sachs |work=Australian Financial Review |url=https://www.afr.com/street-talk/retail-zoo-valued-at-as-much-as-482m-goldman-sachs-20191001-p52wgs}} |
| Apr, 2022
|$400m |
| Feb, 2023
|majority stake = $350m |