Retail Zoo
| Company type | Private |
|---|---|
| Industry | Food and beverage |
| Founded | 2000 |
| Founder | Janine Allis, Jeff Allis |
| Headquarters | Sydney , Australia |
| Products | Boost Juice, Betty’s Burgers, Salsa's Fresh Mex Grill, formerly Cibo Espresso |
| Owner | Adamantem Capital (controlling interest since 2023) |
Retail Zoo is an Australian enterprise headquartered in Sydney that owns prominent dining brands such as Boost Juice, Betty’s Burgers, and Salsa's Fresh Mex Grill. The company formerly held ownership of Cibo Espresso until its divestment in 2024.
This privately held business is valued at approximately $500 million. It has explored the possibility of going public on several occasions, halting plans in 2019 before renewing its initial public offering initiatives in 2022. In February 2023, a controlling interest was purchased by Australian private equity firm Adamantem Capital for $350 million.
History
Established in 2000 by Janine and Jeff Allis, Retail Zoo transferred a majority ownership to Riverside Company, which was subsequently acquired by Bain Capital in 2014. Bain Capital retained control while considering an Australian Securities Exchange listing in 2019, a plan that was later deferred. The company renewed its efforts to become publicly listed in 2022 but was ultimately acquired by Adamantem Capital following a $225 million debt financing arranged by the Commonwealth Bank.
Significant valuation points include:
| Date | Valuation |
|---|---|
| 2014 | Majority stake valued at $185 million |
| Oct 2019 | Valued at approximately $482 million (Goldman Sachs) |
| Apr 2022 | Estimated valuation of $400 million (AFR) |
| Feb 2023 | Majority interest purchased for $350 million |