Main Squeeze Juice Co. announced Tuesday that it acquired I Love Juice Bar, a complementary fast-casual concept offering a similar selection of juices, bowls, and smoothies. Terms of the transaction were not disclosed.
Main Squeeze will integrate the 23-unit chain and some of its popular menu items under its brand name. The move will nearly double the size of its store count. I Love Juice Bar’s locations are concentrated in Tennessee and Texas, while Main Squeeze’s 28-store footprint spans Louisiana, Missouri, Texas, Florida, and Tennessee.
The deal was struck in partnership with Conscious Growth Capital, which is invested in Main Squeeze. The firm's leadership said the deal is a “natural next move” to accelerate growth and drive store economics while increasing brand equity for franchisees in both systems.
“The franchisees in both systems are passionate about helping people live healthier lives and making healthy choices easier,” the firm’s managing partner Heather Elrod said in a statement announcing the deal. “Their missions were very much the same with little territory crossover.”
With the acquisition, the Tennessee-based chain’s franchisees will benefit from Main Squeeze’s operations systems, marketing platforms, supply chain, training capabilities, and growing brand presence. The rebrand will occur over the coming months and is expected to have little impact on customers.
“I made this decision because it's what's best for the franchisees,” said Cortland Finnegan, CEO of I Love Juice Bar, in a statement. “I want them to get top support and experience the benefits of a larger system and brand sooner rather than later."
Based in Scottsdale, Arizona, Conscious Growth Capital is an acquisition and growth accelerator firm focused on the franchise industry. It first partnered with Main Squeeze last summer to fast track franchise sales, real estate development, business intelligence, training, and marketing with the goal of accelerating the brand’s expansion in the U.S. and eventually worldwide.
Main Squeeze last year brought its cold-pressed juices to two new locations, one in Missouri City, Texas, and one in St. Louis, its first store in the state of Missouri. It also inked a deal with franchisees in the Arizona region to open more than 30 locations. The brand is looking to target new markets in Georgia, Tennessee, North Carolina, and South Carolina. It has more than five locations currently in development that are set to open in 2023.