New Orleans-based, 28-unit smoothie and juice company Main Squeeze announced Tuesday the acquisition of 23-unit, Tennessee-based I Love Juice Bar, with locations primarily in its home state and in Texas.
Together, the merged companies have very little crossover in terms of territory, and I Love Juice adds entirely new markets to Main Squeeze’s portfolio, including Tennessee and Georgia. Meanwhile, the slightly larger company Main Squeeze, will be able to bring new benefits to I Love Juice’s franchisees, including their operations systems, marketing platforms, supply chain, training capabilities and robust growth.
“We are thrilled to welcome I Love Juice Bar to our family,” Thomas Nieto, CEO of Main Squeeze Juice Co. said in a statement. “The move comes with huge benefits for both brands, as well as our customers. This acquisition is expected to increase our market share, which increases our customer base. Not only that, but this new buying power and leverage will improve unit level economics at all locations to the benefit of all franchisees.”
The brands share many cohesive values, including similar plant-based, nutritious menus and Nieto noted that the acquisition was a natural “next move” for the brand “to accelerate growth, drive store economics and increase brand equity” for franchisees. With the merger comes several smaller changes to the brands, including a new countertop cold-pressed juicer machine, which Main Squeeze will be testing out as part of a cost-saving measure.
“I made this decision because it’s what’s best for the franchisees,” Cortland Finnegan, CEO of I Love Juice Bar and former NFL cornerback said in a statement. “I want them to get the top support and experience sooner rather than later with the benefits of a larger system and brand.”
Together, they will be able to innovate both menus and learn from each other’s strengths and weaknesses. For example, I Love Juice excels more in food development than Main Squeeze, which will give Main Squeeze franchisees the opportunity to introduce more food options at their stores.
“The acquisition is going to show strength in our system overnight,” Nieto said in a statement. “And our current Main Squeeze franchisees can be assured that our unmatched support that they know and love isn’t going to change.”
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