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The acquisition is expected to close in the next several weeks.Clean Juice, the North Carolina-based organic juice bar franchise, is landing under new ownership. Last week, Brix Holdings, a multi-brand restaurant portfolio company, announced that it will acquire the chain.
This acquisition will add more than 75 existing Clean Juice locations, plus a dozen more in development, to Brix’s portfolio. It will also bring the company’s store count to 300 locations across eight brands. These include Friendly’s, Orange Leaf, Red Mango, Smoothie Factory + Kitchen, Humble Donut Co., and Pizza Jukebox.
Brix expects to close this acquisition “within the next several weeks,” according to a press release. The company did not disclose the terms of the deal.
“Our Brix portfolio of brands all share a common thread: each has a unique and differentiated position in their sector with loyal guests and fans,” Sherif Mityas, CEO of Brix, said in a press release. “Clean Juice fits right into that mold with a strong foundation of beloved and certified organic offerings that effectively extend our spectrum of ‘better-for-you’ options.”
Landon Eckles, co-founder and CEO of Clean Juice, will stay in a consulting role for 90 days after the deal closes, according to Restaurant Business Magazine.
The news outlet reported that it appears as though 60 Clean Juice locations closed in 2024, noting that the chain had 139 units at the end of 2023, according to Technomic, a market research firm.
Clean Juice experienced some challenges last year, particularly when it switched from cold-pressed to bottled juices. This resulted in complaints from franchisees who said this move negatively impacted sales. According to Restaurant Business Magazine, more than 50 operators took Clean Juice to mediation to exit their franchise agreements.
“In 2023 due to a variety of economic and franchisee issues, the Clean Juice system did experience a drop in overall store count. However, those issues are now mostly resolved,” Mityas told Restaurant Dive.
Brix’s acquisition of Clean Juice isn’t the only recent business deal in the restaurant space. Last month, The One Group announced its plan to acquire Safflower Holdings, the parent company of Benihana and Sushi RA. This acquisition will add 105 restaurants to The One Group, bringing its total unit count to 168.
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