Weld North, an investment company founded by former Kaplan CEO Jonathan Grayer, in partnership with Kohlberg Kravis Roberts & Co (KKR), has acquired a significant minority stake in Organic Avenue, a company specialising in the organic juice and raw food marketplace.
Weld North CEO Jonathan Grayer in partnership with Kohlberg Kravis Roberts & Co (KKR), has acquired a significant minority stake in Organic Avenue, a company specialising in the organic juice and raw food marketplace.
The investment marks the first in the health and wellness space for Weld North. As part of the transaction, Grayer will become chairman of Organic Avenue.
Jonathan Grayer, chairman and CEO, Weld North, said: “We are extremely excited to begin Weld North’s expansion into the health and wellness category with this investment in Organic Avenue.
“The organic lifestyle market is an exciting and dynamic space, with consumers spending more than $300bn on lifestyle and health-related products in 2011.
"Organic Avenue, under the leadership of its current management team, has had an impressive growth story in the greater NYC market with high volume stores in key New York neighbourhoods addressing an important and growing consumer.”
Terms of the agreement were not disclosed.
Source: Weld North
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