Bain Capital-owned Retail Zoo is taking a slow burn approach to its mooted initial public offering and ASX-listing, trying to win investors’ hearts with detailed financial information before hitting them up for capital sometime down the track.
Betty’s Burgers now making 60 per cent of Retail Zoo’s revenue, based on 12 month numbers to December 31, and 27 per cent of its earnings before interest, tax, depreciation and amortisation. Retail Zoo’s top dogs told fundies that both Boost and Betty’s were recording double-digit margins, which meant strong cash flow conversion. The overall store count was 665 in FY21, increasing to 720 this financial year and 777 in the forecast period.
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