At what enterprise value was RETAIL ZOO acquired in 2014?

During the acquisition of RETAIL ZOO by BAIN CAPITAL in 2014, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 100M - 350M AUD. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Retail & Consumer industry currently tracks an average EBITDA multiple of 11.3x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of RETAIL ZOO when it was acquired by BAIN CAPITAL?

The exact EV/EBITDA multiple for RETAIL ZOO is available on mynth capital. For comparison, the Retail & Consumer sector currently shows an average EBITDA multiple of 11.3x. Join our community for free to access full valuation data and industry trends.

When was RETAIL ZOO acquired by BAIN CAPITAL?

RETAIL ZOO was acquired by BAIN CAPITAL in 2014.

What was the revenue of RETAIL ZOO at the time of the deal?

The revenue of RETAIL ZOO at the time of the deal is estimated to be in the range of 250M - 500M AUD. Register for free to access the full transaction report and exact valuation multiples.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the RETAIL ZOO acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the RETAIL ZOO deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.baincapital.com/news/bain-capital-private-equity-and-retail-zoo-complete-acquisition

← DATABASE

Home Database Retail & ConsumerRETAIL ZOO

05/2014

RETAIL ZOO

Acquired by

BAIN CAPITAL

AUSTRALIA Hospitality & Leisure / Hospitality / Restaurants / Chains EV 100M - 350M AUD

RETAIL ZOO acquired by BAIN CAPITAL

AUSTRALIA Hospitality & Leisure / Hospitality / Restaurants / Chains EV 100M - 350M AUD

Context

Bain Capital Private Equity, through funds advised by an affiliate, partnered with Retail Zoo’s founders Jeff and Janine Allis to complete the acquisition of Retail Zoo from The Riverside Company and the founders. The transaction is structured as a consortium‑style deal in which the founding team retains a significant equity stake and management control, while Bain Capital becomes the majority‑economic owner and brings capital, strategic guidance, and operational expertise to support the group’s expansion. Retail Zoo, already operating 294 stores in Australia and 100 international outlets across 9 countries, serves as a platform for accelerated growth in the Australian and Asian QSR market, with Boost Juice Bars as the crown jewel brand and Salsa’s, Cibo, and Hatch as complementary, high‑growth concepts. Bain Capital intends to leverage its global Quick Service Restaurant experience—gained through prior investments in Domino’s Pizza, Dunkin’ Brands, Burger King, and Bloomin’ Brands—to scale Retail Zoo’s footprint, deepen brand development, and enrich the franchise‑partner ecosystem, including site expansion into non‑mall locations such as universities, airports, train stations, and petrol stations.

RETAIL ZOO, which reported an EBITDA margin of LOGIN in 2014, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Retail & Consumer sector (11.3x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

-> Deep-dive in Retail & Consumer market trends

Target

Retail Zoo is an Australian‑based, multi‑brand franchise platform that operates a portfolio of quick‑service restaurant concepts, led by Boost Juice Bars, Salsa’s Fresh Mex Grill, Cibo Espresso, and Hatch Chicken Shop. The group operates 294 stores in Australia and 100 international outlets across 9 countries, combining a strong domestic footprint with a growing overseas presence under master‑franchise agreements. Boost Juice Bars, Retail Zoo’s flagship brand, pioneered the juice and smoothie bar category in Australia and is positioned as a market leader, with a store‑rich network in shopping malls and other high‑footfall locations. Salsa’s offers Mexican‑themed QSR fare such as burritos, tacos, and salads, while Cibo Espresso focuses on premium coffee and food‑led formats, and Hatch Chicken Shop targets the gourmet rotisserie‑chicken segment with a health‑conscious positioning.

Ent. Value

Equity Value

Multiples Analysis

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (AUD)

Year

Rev

EBITDA

EBIT

2014

2013

Other operations with RETAIL ZOO

Date	Acquirer	Target	Country	Sector	Deal Context
02/2023	ADAMANTEM CAPITAL	RETAIL ZOO	AUSTRALIA	Hospitality & Leisure	Adamantem Capital acquired a 70% majority stake in Retail Zoo from Bain Capital. The transaction is structured as a mid‑market buyout through Adamantem’s second mid‑market fund, with the remaining 30% ownership retained by the existing management and founder‑shareholders, including Retail Zoo CEO Nishad Alani and founder and chair Janine Allis. Retail Zoo operates more than 750 stores across Australia and overseas under brands such as Boost Juice and Betty’s Burgers. Adamantem plans to reinvest in the group’s expansion, including further growth of Boost’s juice and smoothie‑bar footprint and Betty’s Burgers’ casual‑dining network, while also enhancing data‑driven customer insight, loyalty programs, and ESG frameworks. The firm will also support Retail Zoo’s franchise partners, secure premium real‑estate locations, and explore opportunistic M&A to leverage the group’s strong brand platform.

REFERENCES

Valuation range: EV 100M - 350M AUD

Revenue range: 250M - 500M AUD

Note: Detailed and exact financial metrics (Enterprise Value, Revenue, EBITDA, and precise Multiples) are reserved for Mynth community members. Register for free to unlock full data.

Authors: mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Acquirer: bain capital