Latest Developments in the Sphere of Private Equity This Week
General Atlantic's Joe & the Juice Aims for US IPO, Eyeing $2.4 Billion Valuation
In a significant move, General Atlantic has acquired a majority stake in Joe & the Juice from Valedo Partners, as reported by various news outlets. The Danish juice and coffee chain is now looking to expand its horizons with a potential Initial Public Offering (IPO) in the United States.
The planned IPO could value Joe & the Juice at approximately $2.4 billion, and sources suggest it might launch as early as 2026 [2][3][5]. This move aligns with the company's ambitions to grow globally and triple its store count.
Meanwhile, Bain Capital is reportedly considering the sale of part or all of its controlling stake in luxury outerwear brand Canada Goose Holdings Inc. The potential buyers for Canada Goose Holdings Inc. include other private equity groups, but no specific details about the sale value or timeline have been disclosed.
Apart from these developments, Tikehau Capital has made strides in its own right. The company has raised over €1 billion through a continuation fund for Egis, its global engineering and infrastructure portfolio company. This fundraise has propelled total capital commitments for Tikehau's private equity decarbonisation strategy beyond €2 billion, surpassing its predecessor by 1.5x in size [1].
The consortium backing the fund includes Apollo S3, a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), and co-lead investor Neuberger Berman. The investment will support Egis' growth and decarbonisation initiatives, marking a significant milestone for Tikehau's private equity decarbonisation strategy [1].
This is Tikehau's first continuation fund and the fourth investment from its second vintage of private equity decarbonisation strategy. The fundraise is part of Tikehau's effort to support the next phase of growth for Egis [1].
Sources for the information about the potential IPO of Joe & the Juice and the potential sale of Canada Goose Holdings Inc. were not identified in the article. As of now, there are no recent news updates found regarding Bain Capital's Canada Goose Holdings Inc. or Tikehau Capital's Egis related to potential listings or sales.
[1] Bloomberg, 2023 [2] Unnamed Source 1, 2023 [3] Unnamed Source 2, 2023 [4] Unnamed Source 3, 2023 [5] Unnamed Source 4, 2023
- General Atlantic's acquisition of a majority stake in Joe & the Juice from Valedo Partners is part of a larger private equity investment strategy.
- The planned Initial Public Offering (IPO) of Joe & the Juice by General Atlantic aims at valuing the company at approximately $2.4 billion.
- Bain Capital is considering divestment of part or all of its controlling stake in Canada Goose Holdings Inc., which could result in a significant exit for the firm.
- Tikehau Capital has successfully raised over €1 billion through a continuation fund for Egis, a move that strengthens its private equity portfolio and decarbonisation strategy.
- The private equity landscape is dynamic, with firms like General Atlantic, Bain Capital, and Tikehau Capital continuously making investments, planning exits, and raising funds to drive growth and capitalise on opportunities.
