Dive Brief:
- Main Squeeze Juice Co., which is one of Conscious Capital Growth’s portfolio brands, acquired Tennessee-based I Love Juice Bar, the companies announced Tuesday.
- Main Squeeze will integrate the 20-plus-unit chain, and some of its popular menu items, under its brand name.
- The deal will nearly double Main Squeeze’s store count, which currently totals 28 units across Louisiana, Missouri, Texas, Florida and Mississippi. I Love Juice’s locations are primarily in Texas and Tennessee.
Dive Insight:
The acquisition is expected to “accelerate growth, drive store economics and increase brand equity for franchisees in both systems,” according to the press release. The rebrand of I Love Juice Bar will take place over the coming months and is expected to have little impact on customers. Both brands have similar menus of juice, smoothies and bowls. I Love Juice Bar franchisese will have access to Main Squeeze’s operations system, marketing platforms, supply chain, training and growing brand presence.
Conscious Capital Growth, an acquisition firm focused on growing franchisors, originally partnered with Main Squeeze last June to speed up franchise sales, real estate development, and support business intelligence, training, and other aspects. Within the past year, Main Squeeze opened two stores, including its first store in Missouri. It also signed deals with two franchisees in the Arizona region to open over 30 locations. It currently has at least five locations in development set to open this year. The company is targeting new markets in Georgia, Tennessee, North Carolina and South Carolina in addition to its existing markets.
Main Squeeze’s acquisition is in line with analyst expectations that brands will add similar concepts to expand into new markets where they can convert the stores to their own concepts. Last year, Fat Brands bought Nestle Toll House Cafe and began converting those stores to Great American Cookie Locations. This deal follows yesterday’s announcement that private equity firm Garnett Station Partners is acquiring Firebirds Wood Fired Grill.
