Riverside takes stake in Australia's Boost
The Riverside Company is reportedly acquiring Boost Investment Group (Boost), the holding company that operates Boost Juice Bars and Salsa’s Fresh Mex Grill in Australia.
Boost has finalised an agreement with Riverside to sell a minority stake for an undisclosed sum. Should it materialize, the deal will become the US firm’s third investment for its Riverside Asia Fund launched in 2007, as well as one of its first Australian deals. The fund's preliminary target was Japanese and South Korean businesses with less than $10 million in EBITDA, but it has now moved to explore other markets, particularly Australia. Riverside set up shop in Melbourne last month. Stuart Baxter, Riverside Managing Partner, said, “as the Boost opportunity demonstrates, Australia is home to many successful business models that have great potential to be expanded abroad."
More on Expansion
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.