California-based juice bar chains Project Juice and Beaming Wellness announced last week they have merged to create Superfood Holdings LLC. The new entity will maintain both brand names, which combined operate 16 “organic clean-food kitchens” throughout California.
As part of the transaction, Newport Beach based private investment firm Equity38 has invested in the brands. Project Juice investor First Beverage Group will continue to advise the company. Financial terms were not disclosed.
Speaking with BevNET last week, Project Juice co-founder and CMO Marra St. Clair said the companies have formed a combined leadership team to control both brands and are currently seeking a new CEO. While the brands’ quick-serve stores will not be altered or rebranded in the transition, both Project Juice and Beaming Wellness will create a combined menu composed of the best-selling products from each chain.
St. Clair said the company plans to have a revised juice line-up released by the end of this week and is currently consolidating its smoothie menu. Beaming Wellness also offers a baked goods line, which will be added to Project Juice stores.
According to St. Clair, both companies sourced ingredients from local farms and the merger will allow the brands to combine and streamline their supply chains.
“We try to source direct from farms when we can, but that requires certain volume,” St. Clair told BevNET. “So getting to a certain level of growth will allow us to maintain those relationships.”
Founded in 2012, Project Juice currently operates nine locations throughout Northern California. Beaming Wellness was founded in 2011 and operates seven restaurants throughout Southern California, including at the Los Angeles International Airport. According to St. Clair, a tenth Project Juice location is expected to open in the fourth quarter of 2019. Superfood Holdings is currently exploring an additional location to also open in Q4, however it is “to be determined” which brand the store will belong to.
Project Juice also sells its line of cold-pressed juices wholesale in boutique wellness channels, including hotels, gyms, and airports. According to St. Clair, the merger may allow the brand to expand its wholesale business.
“The two brands coming together and having central warehouses in Northern and Southern California will give us the ability to grow,” St. Clair said. “We don’t rely on distributors for those accounts, we’re handling them directly. So it opens up the opportunity for further growth in that channel.”