Joe & The Juice
 | |
| Company type | Private |
|---|---|
| Industry | Coffee shop |
| Founded | 2002 in Copenhagen, Denmark |
| Founder | Kaspar Basse |
Number of locations | 338(2023)[1] |
Area served |
|
Key people | Thomas Noroxe (CEO)[2] |
| Revenue |  2.18 billion kr. (2021)[3] |
| 249 million kr. (2021)[3] | |
| −233 million kr. (2021)[3] | |
| Owner |
|
| Website | www |
Joe & The Juice (stylized in all caps) is a Danish[4] chain of juice bars and coffee shops around the world. As of 2022 it has over 338 locations globally in Europe, Asia, and Australia with 64 locations in North America.[1] The restaurants serve predominantly coffee, juice, and sandwiches.[5] Their tunacado sandwich went viral in 2023, and popularity has continued for well over a year.[6]
History
[edit]Joe & The Juice was founded in 2002 by Kaspar Basse,[7] at the time in his late 20s. The company is based in Copenhagen, Denmark.[8] It sells coffee, tea, sandwiches, baked goods, fresh juices, smoothies, and veggie shots made with organic ingredients.[9] Their menu offers many vegan and gluten-free options, accommodating dietary restrictions.[10]
Although Joe & The Juice competes with both coffee shops like Starbucks and stores like Jamba Juice, Basse has tried to develop a different atmosphere at the restaurants, opting instead for what has been described as an "edgier" vibe.[11] Managers are generally given autonomy over their stores.[9]
In 2013, Swedish Valedo Partners bought the company for $48 million, though Basse retained a 10 percent stake. General Atlantic invested in October 2016, to help fund expansion into the United States.[7]
In November 2023, it was reported that American General Atlantic would acquire a majority stake in the company for $641 million.[12] On December 21, it was announced that this transaction had been completed.[13]
Locations
[edit]In addition to locations throughout Scandinavia, Joe & The Juice has locations in the San Francisco Bay Area, Los Angeles, Chicago, Miami, Pittsburgh, Seattle, Washington, D.C., Vancouver International Airport, New York City, and Minneapolis-St Paul International Airport. Across Europe it has locations in Reykjavík; Antwerp; London, Oxford, Guildford, Gatwick Airport, Brighton, Birmingham, Liverpool, Stansted Airport, Paris and Nice; Lucerne, Zürich; The Hague, Amsterdam and nearby Amstelveen, Rotterdam, Hamburg; as well as in Seoul. In the Middle East, it has locations in the UAE, Saudi Arabia, Kuwait and Lebanon.[1]
Joe & The Juice opened its first store in Australia in 2016.[14] It suddenly exited the Australian market in 2023 without warning.[15]
In 2022, CEO Thomas Noroxe mentioned that they would expand over the Middle East, starting with Qatar and Dubai, followed by Saudi Arabia, Kuwait, Bahrain and Oman. He also suggested the use of franchise stores to expand into Mexico and China.[2]
See also
[edit]References
[edit]- ^ a b c "Store list". Joe & The Juice. Retrieved April 8, 2023.
- ^ a b Christian Wienberg (8 April 2022). "Joe & The Juice Enters Middle East Market Ahead of IPO, CEO Says". Bloomberg News. Archived from the original on 8 April 2022.
- ^ a b c "Financial statement 2021" (PDF). Joe & The Juice (Press release). 12 July 2022.
- ^ "History". JOE & THE JUICE. Retrieved 2024-09-04.
- ^ Morillo, Alexis (2022-12-01). "TikTok's Viral Tunacado Sandwich Is The Internet's Favorite Lunch Right Now". Bustle. Retrieved 2024-02-11.
- ^ a b Ross, Winston (October 25, 2017). "Meet the Ex-Karate Champ Who Built an International Coffee and Juice Chain Around a Cult of Bros". Money.com. Archived from the original on April 9, 2022. Retrieved July 26, 2018.
- ^ "Company Overview of JOE & THE JUICE A/S". Bloomberg.com. Retrieved 5 November 2018.
- ^ a b Raphael, Rina (2017-01-11). "Coffee, Sandwich, And A Side Of Edgy: How Joe & The Juice Aims To Take Over The U.S." Fast Company. Retrieved 2018-11-20.
- ^ "Joe & the Juice". www.joejuice.com. Retrieved 2024-02-11.
- ^ Rina Raphael (January 11, 2017). "Coffee, Sandwich, And A Side Of Edgy: How Joe & The Juice Aims To Take Over The U.S." Fast Company. Retrieved July 26, 2018.
- ^ Smith, Angel; Smith, Brad (2023-11-13). "General Atlantic to gain majority stake in Joe & The Juice". Yahoo Finance. Retrieved 2023-11-13.
- ^ "General Atlantic Completes Acquisition of Joe & the Juice". Paul Weiss. 21 December 2023. Retrieved 2024-01-05.
- ^ Davitt, Dermot (2016-11-02). "Joe & The Juice enters Australian market at Sydney Airport". The Moodie Davitt Report. Retrieved 2023-09-23.
- ^ Couper, Elena (2023-09-13). "Popular cafe chain Joe & The Juice exits Australian market". News.com.au. Retrieved 2023-09-23.