Costa Group went hard, ran out of puff as PE returns
Costa’s investors don’t yet know what to make of the offer. What they do know is that despite the bankers’ “AgTech” pitch all those years ago, Costa is agriculture and its earnings are volatile.
Rewind eight years and the IPO market was alive and kicking.
Long-time listing candidate Costa Group, the fruit and vegetable business owned by Geelong’s Costa family that was coming out of a stint with a private equity backer, had popped the bonnet for fund managers and was taking bids for its $600 million-odd initial public offering.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
