BisnowKinderCare Real Estate Locks In $650M Refinancing
A private REIT tied to the Milken family refinanced a 549-property KinderCare portfolio as the childcare operator's stock slides on weak enrollment.
Andrew Kidd, who grew Poolwerx's US footprint fourfold, takes over the 235-store haircare chain as it pushes into Canada and beyond.

Just Cuts has named Andrew Kidd chief executive, handing the 235-store Australian haircare franchise to an operator who spent the past six years scaling Poolwerx's U.S. business. Kidd started the role on August 10, succeeding Amber Manning, who leaves after 12 years, including eight as CEO, having grown the chain from 144 stores to 235.
At Poolwerx, Kidd moved from chief operating officer to chief executive in 2022 and grew the U.S. network from 24 locations across 10 states to more than 100 across 17 before stepping down in November 2025. He also spent nine years as a franchisee himself at New Zealand's BBQ Factory, giving him experience on both sides of the franchisor-franchisee relationship before taking Just Cuts' top job.
Kidd said his early focus is franchisee profitability and clearer accountability between corporate support and store owners, alongside investment in the brand's technology stack and its Justice retail product line. For a network Just Cuts' size, clarity on who owns what tends to matter more to unit economics than any single marketing push, and Kidd said he plans to spend his first weeks visiting salons before setting firm priorities.
The appointment lands as Just Cuts opens its first Canadian salon in Ontario, with three more planned in the province. Kidd's cross-border experience at Poolwerx, which he helped build into a national U.S. platform from a New Zealand base, positions him to manage the operational differences that surface when a franchise model crosses into new countries.
BisnowA private REIT tied to the Milken family refinanced a 549-property KinderCare portfolio as the childcare operator's stock slides on weak enrollment.
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