Riverside Delivers A Caffeinated Boost December 15, 2012
Retail Zoo franchising platform teams up with Cibo Espresso
The Riverside Company’s Melbourne, Australia-based restaurant franchising platform Retail Zoo has partnered with Cibo Espresso (Cibo) to speed the expansion of Cibo. Based in Adelaide, Cibo is a franchisor of premium espresso bars with 20 locations in South Australia and two in Queensland.
Cibo joins Boost Juice Bars and Salsa’s Fresh Mex Grill as the third national franchise concept at Retail Zoo. Retail Zoo, which has grown to more than 265 Boost locations and 35 Salsa’s locations employing more than 6,500 people, leverages its franchising and operating expertise, together with its national and international footprint, to help its franchise concepts thrive.
Founded in 2000, Cibo serves authentic Italian-style coffee products, gelato, pastries and desserts. The franchise has earned a reputation for quality, and has been recognized with numerous national awards.
“Cibo is a premium brand that delivers outstanding products,” said Riverside Partner Simon Feiglin. “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 has been helping Retail Zoo succeed since investing in the company with Boost Juice founders Jeff and Janine Allis in 2010. Working with the Cibo founders, Retail Zoo will seek to grow Cibo’s presence throughout Australia and internationally.
Riverside has decades of experience in its franchising specialization, and has a team of professionals dedicated to growing its franchise businesses through expertise, leveraging Riverside’s global origination team, and providing financial support.
Retail Zoo CEO Jeff Allis is excited about Cibo.
“Our vision is to help young Australian companies reach their full potential,” he said. “Cibo is a partnership for both companies. They have a compelling ‘x factor’ brand, and Retail Zoo has a powerful back end to help Cibo achieve its complete vision. Significantly, our major shareholders, Riverside, found and facilitated the opportunity and there was a great synergy between our executives and those from Riverside to bring the Cibo deal to fruition. We love the Cibo brand and it’s an incredible honor to be able to help their team take Cibo to Australia and the world.”
“Cibo has a strong and loyal customer base in South Australia, and we’re confident that it has a lot of room to grow throughout the country and beyond,” said Riverside Senior Associate Steven Spiteri. “Retail Zoo has the tools and team to help facilitate and accelerate that growth.”
The Riverside Company
The Riverside Company is a global private equity firm focused on acquiring growing businesses valued at up to $200 million (€200 million in Europe). Since its founding in 1988, Riverside has invested in 300 transactions. The firm’s international portfolio includes more than 70 companies.