SOLD: Assets of Organic Avenue
Bid Deadline: November 18
Auction Date: November 20
Call for additional information on the available assets
Organic Avenue and all of its assets, including its leased real estate; fixtures, machinery & equipment; intellectual property; etc. is being offered for sale as a turnkey package or in parts.
Keen-Summit Capital Partners is soliciting bids for any of the following transaction structures:
• Sale of business as a turnkey opportunity
• Sale of retail and/or commissary leases in a bulk or individual basis
• Sale of Intellectual Property (i.e., trademark, trade name, website, customer lists, etc.)
• Sale of furniture, fixtures, machinery and equipment
Organic Avenue (or the “Company”) was once the premier grab-and-go destination for organic, plant-based meals and snacks, providing customers with a diverse menu of both hot and cold organic foods available for casual in-store dining or takeout including breakfast, lunch and light dinner options. Building upon the Organic Avenue’s 14-year roots as a leader in the cold-pressed juice industry, the Company made healthy eating easily accessible and delicious.
Organic Avenue had implemented a multi-channel retail strategy supported primarily by its retail stores. In addition, the Company had established a direct-to-consumer e-commerce business as well a variety of wholesale relationships with notable restaurants and sports clubs.
The Company employed approximately 110 people in the retail stores and 120 in the commissary.
List of Properties
- Astor Place - 30 3rd Avenue (@ 9th Street)
- Bleeker - 640 Broadway (62 Bleeker Street)
- Bryant Park - 1065 Avenue of the Americas (5 Bryant Park)
- Chelsea - 261 W 21st Street (216 8th Ave)
- Commissary - 43-46 10th St/43-43 9th St/43-43 9th St, Long Island City
- Hudson - 515 Hudson St
- Midtown East - 649 Lexington Ave &136 E 55th St)
- Park Avenue South - 254 Park Ave S (@ 21st St)
- Upper East Side - 1021 Lexington Ave (@73rd Street)
- Upper East Side II - 206 E 86th St
- Upper West Side - 461-469 Amsterdam Ave (@ 82nd Street)
- Warehouse - 10-01 45th Road, Long Island City
Extraordinary opportunity to establish immediate presence, with 10 stores, in prime Manhattan locations
o Strategically located throughout New York City with many stores situated in areas with high office density
Established/Turnkey Operation: 14 year business with brand recognition, high customer loyalty and broad customer demographic.
Established and growing market for healthy, organic food.
Accelerated growth of the fast casual segment:
o The fast casual restaurant segment is expected to grow faster than the overall restaurant industry; consumers want high quality meals at lower price points than fine dining establishments.
o The segment has tripled its market share in the last decade to approximately 6% of restaurants.
No dominant players in the market: The specialty food retail industry is especially fragmented, and in the absence of major players, the industry is characterized by a large number of small players, roughly 70% of which employ four or fewer employees.
Established and strategically located commissary in Long Island City, NY.