It is a private company valued at around half a billion dollars.[2] The company has explored a public listing on at least two occasions, first exploring and then putting on pause the idea in 2019; before resuming its pursuit of an IPO again in 2022.[2] In February 2023, Australian private equity firm Adamantem Capital acquired a majority stake in the company for $350 million.[3][4]
History
Retail Zoo was founded by Janine and Jeff Allis in 2000.[5] A majority stake was later sold to private equity investor Riverside Company. In 2014 Riverside's shareholding was purchased by Bain Capital.[6][7] During this time, it explored a public listing on the ASX in 2019, but the listing ultimately didn't go ahead that year; and remained owned by Bain.[8][9][10][11] In 2022 the company lodged documents with the Australian Securities & Investments Commission to change its status to a public company.[1] However, it was later acquired by Australian private equity firm Adamantem Capital following a $225m capital raise through debt syndication by the Commonwealth Bank.[12]
^"Retail Zoo IPO on the cards". The Australian. Investment bank Goldman Sachs is believed to be in the box seat to list Bain Capital's Retail Zoo business.
