Boost Juice in takeover talks
Retail Zoo, the company that owns Boost Juice, is in exclusive talks with private equity firm, Affinity Equity Partners, in a sale which could be worth $200 million, The Australian Financial Review reports.
Retail Zoo is 70 per cent owned by US private equity firm, The Riverside Company, which took a major stake in the Australia-based group in 2010, while its founders, Janine and Jeff Allis retained a 25 per cent stake.
Boost Juice has built up almost 200 stores since launching 15 years ago, when it led a smoothie and juice craze across Australia.
It has had its market challenged in the last five years by new entrants, as well as the growth of boutique juices for sale in supermarkets.
It launched Salsa’s Fresh Mex Grill only a few years ago, with the quick service restaurant chain pitting itself against the likes of Mad Mex.
The group acquired Cibo Espresso, an Adelaide-based coffee bar, in late 2012, leading to a sharp raise in annual revenue.
The group, which is headed by Scott Meneilly, has been targeting overseas markets in the last few years, such as China and last year opened an outlet in Russia.
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