Bain Capital acquires majority stake in smoothie chain Boost Juice Bars


australia_koala_170sqBain Capital has agreed to buy a 70 per cent stake in Australian smoothie chain Boost Juice Bars from fellow private equity firm The Riverside Company.

The deal valued the franchise’s owner Retail Zoo at between A$180m and A$185m ($168-$173m), according to the Asian Venture Capital Journal.

Bain is investing alongside one of the Retail Zoo’s founders Janine Allis, who sold part of her stake as part of Riverside’s acquisition of a 70 per cent interest for $70m in 2010.

Boost Juice Bars’s UK business is backed by the Business Growth Fund, which made a £2.5 investment in January 2013.

The company was launched in Adelaide in 2003 and then expanded into more than 20 other markets.

It first hit British shores in 2007 when Richard and Dawn O’Sullivan bought the rights to exclusively operate the chain in the UK and Ireland.

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