Smoothie and juice bar operator Lovejuice has bought its rival Barefruit Juice extending its geographical reach.
Barefruit has a chain of juice bars across the North of England and its sales marks a major step forward for the upwardly mobile expanding Lovejuice.
Lovejuice says the acquisition is ‘highly complementary’ for it as the two companies share a similar ethos and culture – both are focused on finding alternatives to caffeine and carbonated drinks.
John Heseltine, founder of Lovejuice, said the deal was an important phase of its growth in the UK market.
“This acquisition marks the next important stage in our growth, as we build scale and a strong presence across the UK,” he said.
“We are growing our portfolio of outlets and remain on the look out for comparable acquisitions as the juice bar sector moves into a period of consolidation.
“We will also continue to open new stores organically when the right opportunities arise”
Lovejuice, which is backed by the VC Smedvig Capital, is also due to open a new outlet at the recently opened Terminal 5 in Heathrow airport.
© Crimson Business Ltd. 2008
