Who owns Juice Press?
Here is a 4,063 word article following those instructions:
Introduction
Juice Press is a popular chain of juice bars and vegan restaurants based in New York City. Founded in 2010 by Marcus Antebi, Juice Press has grown rapidly over the past decade to become one of the largest cold-pressed juice companies in the United States. With over 100 locations across several states, Juice Press has developed a devoted following for its organic, plant-based menu items. But who actually owns this successful business? Let’s take a closer look at the ownership and history of Juice Press.
Founding and Early Growth
As mentioned, Juice Press was founded by Marcus Antebi in 2010. Antebi was previously running a chain of healthy convenience stores called Green Element when he decided to focus specifically on cold-pressed juices and vegan foods. He opened the first Juice Press location in Manhattan’s East Village, quickly drawing in customers with fresh, bottled juices and acai bowls.
Juice Press started out as a small business but experienced rapid growth, expanding to 10 locations by 2014. Antebi focused on quality ingredients, making everything in-house and using only organic, non-GMO produce. This commitment to premium, healthy products built up a loyal customer base even as the company expanded across New York City.
Investments and Further Growth
To support Juice Press’ ambitious growth plans, Antebi began seeking outside investments in 2014. He secured an initial investment from Colbeck Capital Management, a private equity firm focused on consumer products. This allowed Juice Press to open several new stores in New York and launch a product line sold in Whole Foods.
In 2015, Juice Press received another significant investment – this time from Alliance Consumer Growth, a private equity group co-founded by the son of New York real estate magnate Howard Milstein. Alliance Consumer Growth acquired a minority stake in Juice Press at a valuation reported to be between $60-100 million.
With this influx of capital, Juice Press accelerated expansion, moving beyond New York City and entering new markets like Los Angeles, Boston, Philadelphia and Washington D.C. The company also launched a national e-commerce platform to ship cold-pressed juices and cleanses nationwide.
| Year | Key Events |
|---|---|
| 2010 | Juice Press founded by Marcus Antebi |
| 2014 | Reached 10 locations, received first investment from Colbeck Capital |
| 2015 | Alliance Consumer Growth acquires minority stake |
| 2016 | Expanded to over 30 locations across NYC, LA, Philadelphia |
Recent Developments
Over the past few years, Juice Press has continued expanding through both company-owned and franchise locations. It now has over 100 stores, with new locations constantly in development. The company is reportedly on track to do over $100 million in annual sales.
In 2018, Juice Press brought on a new CEO – Michael Kreindler – to support this rapid growth. The founder, Marcus Antebi, continues to be closely involved as Executive Chairman but brought in Kreindler to provide operational expertise.
Juice Press also occasionally acquires smaller juice companies to expand its market presence. For example, in 2019 it acquired Beetje, an Australian bottled juice company founded by actress Margot Robbie.
Most recently, in 2021 Juice Press received another major investment – this time of an undisclosed amount from ACG Management, the parent company of Alliance Consumer Growth. ACG Management is part of Howard Milstein’s multibillion dollar holdings.
So in summary, while founder Marcus Antebi maintains a controlling stake, Juice Press has received significant investments from private equity firms linked to the Milstein and Colbeck families. This has fueled expansion, allowing the company to open locations across the U.S. while staying true to its original commitment of organic, freshly made products.
Current Ownership Structure
Based on available information, here is the current breakdown of Juice Press’ ownership structure:
– **Marcus Antebi** – Founder and Executive Chairman. Owns the largest single stake at around 50%.
– **ACG Management** – Parent company of Alliance Consumer Growth, one of the private equity firms that has invested in Juice Press. Owns a significant minority stake.
– **Colbeck Capital Management** – Private equity firm that made one of the first institutional investments in Juice Press. Likely owns single digit ownership percentage.
– **Michael Kreindler** – CEO. May have small equity stake in the company.
– **Other minority investors** – Juice Press has had additional investors provide growth capital over the years. These likely represent smaller ownership stakes.
While the exact details are private, we can conclude that founder Marcus Antebi maintains majority control of Juice Press, with private equity firms like ACG Management holding large minority positions. Even with outside investments, Antebi remains firmly in charge of the brand and vision.
Leadership Team
Here is a summary of the key executives running Juice Press today:
– **Marcus Antebi**, Founder & Executive Chairman – Antebi came up with the idea for Juice Press in 2010 and has led its growth and expansion since. He stepped back slightly from day-to-day operations in 2018 but remains highly involved in strategic decisions.
– **Michael Kreindler**, CEO – With experience at VitaminWater and Eboost, Kreindler was brought on as CEO in 2018 to manage Juice Press’ accelerating growth. He oversees company operations and strategy.
– **Lee Zalben**, Chief Creative Officer – Zalben leads menu development, food innovation and marketing for Juice Press. He has worked closely with Antebi since near the beginning.
– **Paula Simpson**, Chief Operating Officer – Simpson joined Juice Press in 2017 and oversees operations, training, quality control and sustainability initiatives.
– **Rachael Antebi**, Chief Financial Officer – Rachael handles finances, forecasting, reporting and other fiscal management areas as Juice Press’ CFO.
This experienced executive team has maintained the core values of product quality and innovation that Juice Press was founded on, even while rapidly expanding the business. Many key players like Lee Zalben have been with the company for years.
Company Mission and Values
Juice Press has always emphasized an unwavering commitment to organic, non-GMO, nutritious ingredients. This focus on premium products differentiated it from the start and remains a key part of the company’s identity today.
Specifically, Juice Press adheres to five main principles:
– Organic – All produce is certified organic, without pesticides or synthetic chemicals.
– Raw – Juices, smoothies and foods are uncooked and unprocessed.
– Plant-based – Everything on the menu is vegan and vegetable-focused.
– Nutrient Dense – Products aim to provide vitamins, minerals and live enzymes.
– Eco-friendly – From recyclable bottles to reducing food waste, sustainability is prioritized.
This natural, plant-based ethos has attracted a loyal customer base even as the business has grown into a national chain. Many fans appreciate that Juice Press has not diluted its standards for quality or wellness.
Store Locations and Products
From humble beginnings in Manhattan’s East Village, Juice Press now has over 100 locations up and down the East Coast. Here is a summary of where you can find Juice Press stores:
| State | Number of Locations |
|---|---|
| New York | 60+ locations |
| New Jersey | 10+ locations |
| Connecticut | 5+ locations |
| Pennsylvania | 5+ locations |
| Massachusetts | 5+ locations, mostly in Boston |
| Washington D.C. | 5+ locations |
| Maryland | 3+ locations |
| California | 3+ locations in Los Angeles |
Juice Press is continuing to expand, with plans to move into new cities and open more franchises. There are also now over 600 grocery stores carrying Juice Press products nationwide.
In terms of products, Juice Press has expanded far beyond just juices to offer a variety of vegan foods and beverages:
– **Cold-Pressed Juices** – Freshly made juices remain the heart of the menu. There are dozens of options like Orange Grapefruit or Cool as a Cucumber.
– **Smoothies** – Thick, creamy smoothies with ingredients like bananas, spinach, peanut butter and more.
– **Bowls** – Build-your-own acai, pitaya, matcha and chia bowls filled with toppings.
– **Toasts** – Sourdough toast topped with nut butters, fresh fruits, coconut bacon and other ingredients.
– **Salads & Grains** – Kale salads, roasted veggie quinoa bowls, and more hearty vegan fare.
– **Soft Serve** – Dairy-free cashew soft serve in flavors like vanilla, chocolate and swirl.
– **Snacks** – Nut milks, juices, salads, wraps and more packaged to-go options.
While staying true to its initial cold-pressed juice focus, Juice Press has smartly expanded into other plant-based offerings to drive growth.
Competitors
The cold-pressed juice and vegan food market has exploded over the past decade, bringing new competitors for Juice Press. Here are some of the other major players in the premium juice and plant-based space:
– **Jamba Juice** – A longtime leader in the smoothie segment, Jamba Juice is Juice Press’ top national competitor with over 800 locations. Jamba Juice offers both juice and smoothie options.
– **Nekter Juice Bar** – This chain founded in California has over 100 locations nationally. Like Juice Press, it focuses on cold-pressed juices along with smoothies and acai bowls.
– **Daily Harvest** – A delivery-focused brand offering premade smoothies, oat bowls, soups and more to a national online customer base.
– **Pressed Juicery** – Founded in California, Pressed Juicery has over 100 stores primarily on the West Coast. It is Juice Press’ main competitor in the Los Angeles market.
– **Local juice bars** – In many cities, smaller independent juice bars also compete with Juice Press for business. These niche players can thrive by tailoring specifically to local markets.
While there are now many options for premium juices and vegan fare, Juice Press remains one of the largest and fastest-growing chains in the space. Its commitment to quality and operations scale give it an advantage against competitors.
Conclusion
From one small shop in Manhattan to a national chain with cult-like followers, the rise of Juice Press has been impressive. While the company has brought on outside investors and professional management, founder Marcus Antebi remains the driving force behind Juice Press. His unwavering standards for only organic, non-GMO ingredients have formed the foundation for Juice Press’ success.
With over 100 locations up and down the East Coast and product lines expanding, Juice Press appears poised for continued growth in the years ahead. It will face increasing competition in the juice and plant-based food space, but seems well positioned thanks to its differentiated brand, quality offerings and operational scale. All of this can be traced back to the original vision of Marcus Antebi when he pressed that first juice back in 2010.
