Global private investment firm General Atlantic (GA) is to acquire a majority interest in Joe & the Juice, a fast-growing freshly-made juice, coffee, and sandwiches concept, from Valedo Partners, which will fully exit its investment in the Company.
General Atlantic first partnered with Joe & the Juice through a strategic minority growth investment in 2016.
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, capitalise on strong customer demand, and extend its digital distribution channels.
Since General Atlantic’s initial investment in October 2016, Joe & the Juice has grown revenue profitably by more than four times and doubled its number of stores. Today, Joe & the Juice has more than 360 outlets around the world, up from 175 in 2016.
Joe & the Juice says that Part of General Atlantic’s investment will be used to reduce debt on the Company’s balance sheets and focus on an unlevered store rollout in key international markets, capitalising on global customer demand for convenient, healthy food.
The transaction is expected to close in the fourth quarter of 2023, subject to customary closing conditions and regulatory approvals.
