Weld North acquires minority stake in Organic Avenue
summary：Investment firm Weld North has a significant minority stake in Organic Avenue, a producer of health products, for an undisclosed amount....
The investment marks the first in the health and wellness space for Weld North. As part of the transaction, Weld North CEO Jonathan Grayer will become chairman of Organic Avenue.
Jonathan Grayer said that consumers have spent more than $300bn on lifestyle and health-related products in 2011.
"We look forward to helping Organic Avenue realize its goal to open many more new locations over the next two years and to position the company for long-term expansion," Grayer added.
Organic Avenue, based in New York City, has developed a line of 50 custom developed healthy product categories including organic, cold-pressed juices, soups, smoothies, salads, booster shots, gourmet entrees and desserts. Currently, the company has eight boutiques and seasonal pop-up locations.