Arabian Gulf Business Insight (AGBI): IEmirates International Investment Company (EIIC) is reportedly acquiring a minority stake in Joe and the Juice, a Danish chain of juice bars and coffee shops.

The stake is estimated to be valued at $1.8 billion, Bloomberg reported, quoting unidentified sources. US equity investor General Atlantic will remain the majority shareholder. 

Abu Dhabi-based EIIC will acquire some of General Atlantic’s US equity holdings and buy new shares, the report said.

The new funding will expand the brand’s network to 1,000 stores by 2028, the report said.

It is the latest overseas deal by Gulf investors. Earlier this month Abu Dhabi-listed 2PointZero Group, UAE sovereign fund Mubadala Investment Company and state-owned Qatar Investment Authority (QIA) joined the Series G fundraising for Whoop, which valued the US-based wearable technology company at $10 billion.

Savvy Games Group, a games and esports company wholly owned by Saudi Arabia’s Public Investment Fund, has agreed to buy Moonton studio from China’s ByteDance.

Also this month, a unit of Abu Dhabi conglomerate International Holding Company acquired a majority stake in British businessman Richard Caring’s hospitality business.

Founded in Copenhagen in 2002, Joe and the Juice’s revenue reached about $500 million last year, when it opened 75 new stores, Bloomberg reported. The company has outlets in locations including the UAE, Kuwait, Saudi Arabia and Qatar, according to the company’s website.

EIIC has invested in UAE-based Spinneys, Lulu Retail and Talabat, San Francisco-based cryptocurrency exchange Kraken, and Elon Musk’s xAI.