Paleo franchise gets a boost
Buy-in a boost to ambitions
Boost Juice founder Janine Allis is to take a $750,000 stake in the Cairnsbased Paleo Cafe franchise chain so it can expand further within Australia and overseas.
BOOST Juice founder Janine Allis is to take a $750,000 stake in the Cairns-based paleo Cafe franchise chain so it can expand further within Australia and overseas.
She has bought a 35 per cent share of paleo Cafe in a deal she negotiated as “a shark” on the Ten Network’s Shark Tank program. It was the biggest deal of the current series.
Paleo founders Marlies and Jai Hobbs originally asked the sharks for $750,000 for a 10 per cent stake in the business but Ms Allis negotiated to take a greater shareholding in the company for the same price.
She is the founder of Boost Juice and part-owner of Retail Zoo, which is the parent company of Boost Juice, Salsa’s Fresh Mex Grill, CIBO Espresso and Hatch.
Mr Hobbs called it an “exciting” chapter in the business.
“Marlies and I are so excited with the experience and resources she brings with the Retail Zoo and four brands and 400 franchises,” he said.
It would enable paleo to grow in Sydney, Melbourne and Brisbane and overseas, particularly New Zealand, Germany and the US.
“We’ve just extended into New Zealand and opened a cafe there three months ago and we also now have a master franchise agreement in Germany.”
Mr Hobbs said the deal was one of the brand’s highlights since opening in Cairns in 2012 and expanding to 12 outlets.
“We spent over an hour with five people of their calibre (Ms Allis, Talent 2 International owner Andrew Banks, tech start-up multi-millionaire Steve Baxter, Greencross chief Dr Glen Richards and RedBal- loon founder Naomi Simson) which was an experience money can’t buy,” he said.
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