Bain is in late-stage talks to sell the business to Adamantem Capital, a Sydney-based buyout firm that would be its third private equity owner in the past decade.
Should they get their deal as expected, it would put an end to Bain’s three-year-long effort to get Retail Zoo listed, and see it sail off into the sunset after eight years with Boost Juice’s owner.
To be fair, the business changed materially under Bain’s ownership. While Retail Zoo still has Boost Juice, Betty’s Burgers has grown rapidly to arguably be the most valuable part.
The deal’s expected to be worth more than $300 million.
Boost Juice and Betty’s Burgers owner Retail Zoo looks set for another stint in private equity hands, with Adamantem Capital homing in on a deal to acquire the company.
Australia’s big four banks are making the most of the annual bond deal season, peppering domestic and offshore investors and signalling there’s more to come in the coming fortnight.
