General Atlantic invests in Joe & The Juice
Private equity firm General Atlantic has invested in Denmark-based coffee and juice bar Joe & the Juice.
Financial terms were not disclosed. General Atlantic will be a minority shareholder and joins existing investor Valedo Partners.
With this deal, Joe & The Juice is expected to value at DKK1.5bn ($220m).
Joe & The Juice was founded in 2002 by Kaspar Basse, the present CEO. It offers a modern and urban ambience to its millennial patrons who are on the lookout for convenience due to their fast-paced life.
It is also known for its healthy offerings which are made from natural and organic ingredients. The juice bar offers freshly made juices, shakes, coffee and sandwiches.
The service inside Joe & The Juice bars has created conducive atmosphere for its customers to either work or to socialise while enjoying coffee or juice.
At present Joe & The Juice has opened about 160 stores worldwide. Majority of these stores are located in the Nordic region of Europe and across UK. It is also expanding in Asian market and has recently entered US market.
Joe & the Juice founder and CEO Kaspar Basse said: “Joe & the Juice has become a cultural hot-spot in northern Europe, providing a hip environment where both employees and customers enjoy spending time.
“We are thrilled to welcome General Atlantic as our new investment partner alongside Valedo.
“General Atlantic has a strong track record of supporting high-growth companies as they expand globally and we look forward to leveraging the firm’s expertise in the retail and restaurant sectors as we continue to build our brand globally.”