NEW YORK: Global investor General Atlantic has finalized an agreement to acquire a majority interest in Joe & the Juice, a rapidly expanding brand known for its fresh juices, coffee, and sandwiches.
This move marks the exit of Valedo Partners, the previous investor in the company. General Atlantic, which initially invested in Joe & the Juice in 2016, will now hold the majority control of the brand, aiming to accelerate its global presence and enhance digital distribution channels.
Joe & the Juice has witnessed significant growth since General Atlantic’s initial investment in 2016, with a revenue increase of over four times and a store count doubling to over 360 locations worldwide.
The company’s focus on digital channels, now contributing to 30% of sales, has been a notable success. With the new investment, the brand plans to decrease its debt and expand its store presence in key international markets, capitalizing on the increasing demand for healthy and convenient food.
General Atlantic’s additional investment highlights the confidence in Joe & the Juice’s business model and digital advancement. The brand intends to emphasize further global expansion, particularly in the U.S., the UK, Europe, the Middle East, Asia, and Latin America. Embracing a successful franchising model, particularly evident in the Middle East with 23 franchised stores, Joe & the Juice plans to expand this strategy globally.
The CEO of Joe & the Juice, Thomas Noroxe, expressed enthusiasm about the partnership with General Atlantic, underscoring the brand’s commitment to global growth through geographic expansion, franchising, and an enhanced omni-channel experience.
Founded in Copenhagen in 2002, Joe & the Juice offers high-quality, natural products in a modern urban setting, catering to customers seeking convenience while maintaining healthy lifestyles. With the transaction expected to close in the fourth quarter of 2023, subject to regulatory approvals, the partnership between General Atlantic and Joe & the Juice sets the stage for an exciting new phase in the brand’s expansion.
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