General Atlantic, a NYC-based global investor, acquired a majority interest in Joe & the Juice, a Copenhagen, Denmark-based freshly-made juice, coffee, and sandwiches concept, from Valedo Partners.
The transaction is expected to close in the fourth quarter of 2023.
Upon completion of the transaction, General Atlantic will become majority control shareholder of the company. Since General Atlantic’s initial investment in October 2016, Joe & the Juice has achieved global scale and strong performance, growing revenue profitably by more than 4x and doubling its store footprint. Today, Joe & the Juice has more than 360 stores around the world, up from 175 in 2016.
Led by Thomas Noroxe, CEO, Joe & the Juice plans to leverage its expanded partnership with General Atlantic to further accelerate the growth of its global footprint in key international markets, capitalize on the customer demand, and extend its digital distribution channels. Part of 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.
Founded in in 2002 and led by CEO Thomas Noroxe, Joe & the Juice is an urban juice bar and coffee concept operating across 18 countries. The company sells freshly prepared juices, shakes, sandwiches, and coffee, using natural and organic ingredients sourced from growers directly.
FinSMEs
13/11/2023