Bain Capital halts Retail Zoo IPO
It was reportedly seeking a A$300 million-plus valuation.
Bain Capital has pulled the plug on an initial public offering of Retail Zoo, the owner of the Boost Juice, Betty’s Burgers, Cibo Espresso and Salsa’s Fresh Mex restaurant brands.
“Bain has made a decision not to launch a management roadshow for the potential IPO of Retail Zoo in the current IPO market environment. Market conditions will be monitored going forward,” the private equity firm said in a statement sent to QSR Media.
Earlier reports from the Australian Financial Review suggested Retail Zoo was preparing for a November listing, with brokers introducing the company to fund managers in the past weeks.
Across the four brands, Retail Zoo has 596 franchised stores and 47 company-owned stores.
