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11/2023Majority

General Atlantic takes majority stake in Joe & the Juice

DENMARK Hospitality & Leisure / Hospitality / Restaurants / Chains EV $500M–1.5bn

Context

General Atlantic acquired a majority stake in Joe & the Juice from Swedish private equity firm Valedo Partners. The deal is structured as a buy‑out of Valedo’s entire holding, which fully exits the business, while General Atlantic, which has been a minority investor since 2016, steps up to majority control. The transaction is intended to support Joe & the Juice’s international expansion, with a particular focus on the U.S. and the UK, as well as on deepening the company’s digital footprint and improving its balance‑sheet structure by reducing leverage. Since General Atlantic’s initial minority investment in 2016, Joe & the Juice has grown its store count from about 175 to more than 360 globally and increased revenue by more than fourfold, demonstrating strong underlying unit economics and category resilience. The group already operates more than 60 sites in the UK and around 70 in the U.S., with additional franchised locations in the Middle East and other regions, creating a diversified, multi‑market platform. By taking majority control, General Atlantic aims to accelerate both company‑owned and franchised store rollout, enhance brand consistency, and professionalize corporate‑governance and commercial‑roll‑out processes, leveraging its sector‑specific consumer‑investment expertise and global network.

Joe & the Juice, which reported an EBITDA margin of [members only] in 2022, is valued in this transaction at an EV/EBITDA multiple of 15x–25x, representing a premium to the average observed in the Retail & Consumer sector (12.0x in 2023).

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Target

Joe & the Juice is a Copenhagen‑born, global food and beverage chain focused on freshly prepared juice, coffee, and sandwiches served in a modern, design‑driven café environment. Founded in 2002, the company sources natural and organic ingredients directly from growers to underpin a concept centered on health‑oriented, on‑the‑go consumption. The menu combines premium‑roast coffee, cold‑pressed juices, and high‑quality sandwiches, targeting urban professionals and younger consumers seeking a lifestyle‑oriented dining experience rather than a purely transactional quick‑service proposition. With more than 480 stores across 23 countries in North America, Europe, the Middle East, and Asia, Joe & the Juice has transformed from a niche European concept into a globally recognized brand.

Ent. Value

$500M–1.5bn

Equity Value

[members only]

Multiples

EV / Revenue

2x–6x

EV / EBITDA

15x–25x

EV / EBIT

[members only]

Historical Financials (USD)

Year
Rev
EBITDA
EBIT
2022
$150–250M
$25–50M
[members only]
2021
$150–250M
$25–50M
[members only]

Other operations with Joe & the Juice

Other operations with Joe & the Juice
DateAcquirerTargetCountrySector
04/2026EMIRATES INTERNATIONAL INVESTMENT COMPANY EIICJOE & THE JUICEDENMARKRestaurants / Chains
10/2016GENERAL ATLANTIC / VALEDO PARTNERSJOE & THE JUICEDENMARKRestaurants / Chains
10/2013VALEDO PARTNERSJOE & THE JUICEDENMARKRestaurants / Chains

Other operations with General Atlantic

Other operations with General Atlantic
DateAcquirerTargetCountrySector
05/2026GENERAL ATLANTICEUROPEAN WAX CENTERUNITED STATESBeauty & Cosmetics
12/2025GENERAL ATLANTIC / CPP INVESTMENTSBOATS GROUPUNITED STATESE-commerce & Marketplaces
07/2025GENERAL ATLANTICPLANETARTFRANCESpecialized E-commerce
10/2016GENERAL ATLANTIC / VALEDO PARTNERSJOE & THE JUICEDENMARKRestaurants / Chains

Similar deals in Hospitality & Leisure

Similar deals in Hospitality & Leisure
DateAcquirerTargetCountrySector
12/2023PUBLIC INVESTMENT FUND PIFROCCO FORTE HOTELSUNITED KINGDOMHotels & Accommodation
12/2023SHAMAL HOLDINGSUSHISAMBA GROUPUNITED KINGDOMRestaurants / Chains
10/2023CALVETON / BREAL CAPITALTHE EVOLV COLLECTIONUNITED KINGDOMRestaurants / Chains
10/2023LOV GROUPANGE BOULANGERIEFRANCERestaurants / Chains
09/2023MCWIN CAPITAL PARTNERSBIG MAMMAFRANCERestaurants / Chains
09/2023PARADIESTASTES ON THE FLYUNITED STATESRestaurants / Chains
08/2023RESTAURANT BRANDSFIESTA RESTAURANTUNITED STATESRestaurants / Chains
07/2023TORIDOLL HOLDINGS CORPORATION / CAPDESIA GROUPTHE FULHAM SHOREUNITED KINGDOMRestaurants / Chains
06/2023AZZURRI GROUPBOOJUMIRELANDRestaurants / Chains
05/2023PAI PARTNERSLOOPING GROUPFRANCELeisure Facilities

REFERENCES

Valuation range: EV $500M–1.5bn

Revenue range: $150–250M

EBITDA range: $25–50M

EV/Revenue range: 2x - 6x

EV/EBITDA range: 15x - 25x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Joe & the Juice by General Atlantic are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Target: joe & the juice

Acquirer: general atlantic

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Joe & the Juice, a Danish company specialised in Hospitality, by General Atlantic in 2023. This followed a prior holding cycle initiated by General Atlantic / Valedo Partners in October 2016, before ownership was subsequently transferred to Emirates International Investment Company EIIC in April 2026 (see dedicated deal pages for details).

How was the acquisition of Joe & the Juice by General Atlantic valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the $500M–1.5bn band, its EV/EBITDA multiple within the 15x - 25x range, and its EV/revenue multiple within the 2x - 6x range. Exact figures are available to members.

What were Joe & the Juice’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Joe & the Juice generated annual revenue estimated in the $150–250M range and EBITDA in the $25–50M bracket (FY 2022). Detailed financial figures are available to members.

How does the valuation of Joe & the Juice compare to benchmarks in the Retail & Consumer sector?

With an estimated valuation multiple in the range of 15x - 25x, Joe & the Juice trades above the median sector multiple of 12.0x observed for the Retail & Consumer sector in 2023. The descriptive comparison is based on 15 transactions with available EV/EBITDA multiples from differences in size, growth, profitability that may affect comparability.

What sources support the information on this transaction?

Data on this transaction was compiled from the official corporate announcement published by the parties, combined with independent reporting from specialized financial and M&A publications.

What is mynth?

mynth is the first free M&A database dedicated to Small & Mid-Cap transactions. We centralize Enterprise Values, revenue multiples, EBITDA multiples and transaction financials that are typically locked behind five-figure subscriptions on platforms like Capital IQ or Mergermarket. On mynth, searching and browsing deals is completely free. Our mission is simple: make professional-grade valuation intelligence accessible to every M&A advisor, independent consultant, Private Equity professional and student, without the burden of expensive annual licenses.