NEW YORK – The investment firm Weld North L.L.C. has acquired a controlling interest in Organic Avenue, a manufacturer of organic juices and snacks as well as other products. With the investment, Weld North said it plans to add scale to Organic Avenue’s current business model.
“We are very excited to increase our ownership position in Organic Avenue,” said Jonathan Grayer, chairman and chief executive officer of Weld North. “We are convinced that Organic Avenue is extraordinarily well positioned to become a national leader in both the rapidly growing $5 billion organic juicing industry and the $75 billion natural foods industry, driven by an increasing number of consumers moving towards a healthier diet of organic foods.
“We are exploring a number of potential distribution models, including increasing the footprint of our retail locations and web business as well as agreements with third-party distributors. Organic Avenue has all the attributes that fit our investment profile: it is a dynamic platform with differentiated product offerings in a high growth industry that can rapidly scale into a national presence.”In addition to its lines of juices and snacks, Organic Avenue has 10 retail locations in and around New York City.