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Riverside realises investment in Retail Zoo

The Riverside Company has exited Retail Zoo, an Australian owner of four quick service restaurant concepts – Boost Juice, Salsa’s, Cibo Espresso and Hatch.

Riverside invested in Retail Zoo in 2010 and helped the company grow its earnings by more than 150 per cent over the next four years. Retail Zoo is based in Chadstone, Victoria.
 
The exit marks Riverside’s 100th since its 1988 founding.
 
Retail Zoo has 294 stores across all brands in Australia, with an additional 100 Boost stores in nine international markets. Salsa’s is a growing chain of 51 fresh Mexican restaurants. Cibo Espresso is a network of 23 gourmet Italian coffee bars located primarily in South Australia. Hatch, Retail Zoo’s latest offering, is a modernised concept for quick service chicken-based restaurants.
 
“We’re very pleased with how we were able to grow Retail Zoo,” says Riverside managing partner Stu Baxter. “It was a dynamic company with great managers when we made the investment, and our franchising expertise and international experience allowed us to partner with that team and guide them along their journey to becoming an even more successful enterprise.”
 
Riverside’s global presence and transacting expertise helped Retail Zoo to expand its total network of stores from 240 at investment to more than 390 by exit, including almost 50 new international stores and 22 acquired stores with the add-on of Cibo Espresso in 2012.
 
“Riverside’s greatest strength is its ability to recognise great businesses and allow those businesses to grow under their high quality guidance,” says Retail Zoo founder and director Janine Allis. “I’ve thoroughly enjoyed interacting with the Riverside team, and I’m grateful for all their support.”
 
Retail Zoo was advised by UBS, Jones Day, KPMG and Deloitte on the exit transaction.

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