PEP targets $263m IPO for Collins Foods

Earlier this week it was reported that Collins was aiming to go public before the end of the year in a deal that would value the enterprise at $400 million.

Collins manages all 119 KFC outlets in Queensland and 26 Sizzler restaurants nationwide. It also operates or has the franchises for more than 260 Sizzlers outlets worldwide. Annual revenue is over A$400 million and 2012 sales growth is expected to be 5%. PEP bought the business in 2005.

News of the planned IPO comes after Quick Service Restaurant Holdings, Australia's largest fast-food operator whose interests include the Red Rooster, Oporto and Chicken Treat brands, was sold by Quadrant Private Equity to Archer Capital for $450 million.

If the IPO goes through, it would be a coup for PEP, which has struggled to exit its assets on the public market in the past year. In March, PEP decided to once again delay its planned IPO of Australian cinema investee Hoyts Group, citing market instability. Last year, it faced another setback when its bookstore chain REDGroup also held off its listing process, before being taken into receivership.

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• Topics
• Australasia
• Exits
• Consumer
• Pacific Equity Partners
• Quadrant Private Equity
• Archer Capital