US-based café chain Pura Vida Miami has received a minority growth investment from private equity company TSG Consumer.
Financial details of the transaction were not revealed.
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The deal will accelerate the company’s expansion across the country.
TSG Consumer New York managing director and head Colin Welch stated: “Pura Vida’s mission-driven approach sets it apart as an elevated, better-for-you destination for today’s consumer.
“Omer and Jen have created an authentic brand rooted in premium, healthy ingredients, operational excellence and a deep sense of community. We are thrilled to support their continued momentum, build on the incredible foundation they have established, and accelerate growth and value creation while sharing the Pura Vida experience with communities across the country.”
Co-founders Omer and Jennifer Horev will remain majority owners of the café chain and continue to spearhead the business, with Omer Horev as CEO and Jennifer Horev as chief brand officer.
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By GlobalDataThe pair founded Pura Vida as a single Miami Beach café in 2012 and have grown the concept to more than 40 locations across Florida, New York City and Southern California.
Omer Horev stated: “This investment marks a pivotal and energising moment in our growth. With TSG’s experience supporting founder-led consumer brands and their values-driven approach, we are confident that we can continue to scale while delivering the high-quality, nutritious offerings our customers know and love.”
The chain offers a health-focused menu including acai bowls, superfood smoothies and salads.
Meister Seelig & Fein offered legal advice to Pura Vida for the transaction. Ropes & Gray was legal counsel to TSG Consumer, while Goldman Sachs & Co and JP Morgan offered financial advice.
