Joe & The Juice acquired by General Atlantic
The growth equity investor will purchase the shares of Valedo Partners, which will fully exit its investment, with the deal expected to close by the end of the year.
General Atlantic first partnered with Joe & the Juice through a strategic minority growth investment in 2016.
“As a long-term partner to Joe & the Juice, General Atlantic is proud to become a majority investor in the brand and continue our collaboration with the management team,” says Andrew Crawford, managing director and global head of consumer at General Atlantic.
“Joe & the Juice’s business momentum is inflecting, and we are excited to build on the Company’s digital traction and accelerate company-owned and franchised unit growth.”
Joe & the Juice plans to leverage the investment to further accelerate the growth of its global footprint in key international markets, capitalise on strong customer demand, and extend its digital distribution channels.
The premium juice bar brand has more than 360 stores around the world, including nearly 70 in the UK. Its other big markets are its native Denmark and the US.
The company has significantly invested in digital channels, which now account for 30% of sales and are growing. The investment will be used to reduce debt on the company’s balance sheets and focus on an unlevered store rollout in key international markets, capitalizing on global customer demand for convenient, healthy food.
Joe & the Juice intends to focus on continued international expansion in key markets, particularly in the U.S., where it now has around 70 stores.
The company sees further growth opportunities in additional international markets, including the UK and Europe, Middle East, Asia, and Latin America.
Following its success in the Middle East region, where Joe & the Juice now has 23 franchised stores, the company plans to accelerate its franchising partnership worldwide.
“We are delighted to have General Atlantic’s expanded commitment to Joe & the Juice,” says Thomas Noroxe, CEO of Joe & the Juice.
“Over the past seven years, General Atlantic has demonstrated a true dedication to collaboration as we have worked together to achieve our growth aspirations
“As we make strides into our next chapter, we look forward to bringing Joe & the Juice to more customers globally through our focus on geographic expansion, franchising, and a seamless omni-channel experience.”
The transaction is expected to close in the fourth quarter of 2023, subject to customary conditions and regulatory approvals.
