Retail Zoo owns the Boost Juice and Betty’s Burgers chains is the fifth investment in Adamantem’s $800 million second fund.
The firm will buy an estimated 70 per cent stake from Bain Capital. Other owners include Boost Juice founders Janine Allis and her husband Jeff, who are believed to have sold part of their stake to Adamantem.
Last financial year net profit climbed to $14.6 million in the 12 months to June 30, up from $14.1 million in 2021, according to accounts filed by Retail Zoo Holding Company Ltd. Profits had slumped to just $2.8 million in 2020 due to forced store closures and brand impairments and costs associated with aSales from company-owned stores, royalties, franchisees fees and supplier rebates rose 24.3 per cent to $178.2 million.
Adamantem manages about $1.6 billion of assets across both private equity and public market strategies with investments in a range of companies including horse feed business Hygain, processed meat producer Hellers, hair products group Nak Hair and aged care group Heritage Lifecare.Retail Zoo is the fifth investment in the Sydney-based buyout firm’s $800 million second fund.
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