Riverside-owned Retail Zoo completes Australia bolt-on
Retail Zoo, an Australia-based restaurant chain backed by The Riverside Company, has completed the bolt-on acquisition of Cibo Espresso, a franchiser of espresso bars in South Australia and Queensland.
Founded in 2000, Cibo serves authentic Italian-style coffee products, gelato, pastries and desserts. It will join as the third national franchise concept at Retail Zoo, which has more than 265 locations under the Boost Juice Bars brand and another 35 stores under Salsa's Fresh Mex Grill.
"Cibo is a premium brand that delivers outstanding products," Riverside partner Simon Feiglin said in a statement. "We are confident that the talented team at Cibo will benefit from the infrastructure and experience at Retail Zoo to help the brand grow even more quickly."
Riverside invested in Retail Zoo with Boost Juice founders Jeff and Janine Allis in 2010. Other majority shareholders in the company include Allis Investments and Macquarie.
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