Weld North Acquires Control Stake in Organic Avenue

  Weld North Acquires Control Stake in Organic Avenue

   Company Poised to Take a Leadership Position in Both $5 Billion Organic
           Juicing Industry and $75 Billion Natural Foods Industry

Business Wire

NEW YORK -- January 8, 2013

Weld North LLC, an investment company founded by former Kaplan, Inc. CEO
Jonathan Grayer in partnership with Kohlberg Kravis Roberts & Co. (KKR),
announced today that it has acquired a significant control stake equal to
approximately 70% in Organic Avenue, a trend-setter in the vibrant organic
juice and food marketplace. The investment follows a minority stake taken in
the company in June 2012.

Weld North also announced that Organic Avenue Founder Denise Mari and current
CEO Doug Evans will transition to the company’s Board of Directors. In
addition to his Organic Avenue Board role, Doug will also work on wellness
investment opportunities at Weld North. Current Chief Operating Officer Arthur
Pergament will serve as interim CEO and the company has initiated a national
search for its next CEO.

“We are very excited to increase our ownership position in Organic Avenue,”
said Jonathan Grayer, chairman and CEO, Weld North. “We are convinced that
Organic Avenue is extraordinarily well positioned to become a national leader
in both the rapidly growing $5 billion organic juicing industry and the $75
billion natural foods industry, driven by an increasing number of consumers
moving towards a healthier diet of organic foods. We are exploring a number of
potential distribution models including increasing the footprint of our retail
locations and Web business as well as agreements with third-party
distributors. Organic Avenue has all the attributes that fit our investment
profile: it is a dynamic platform with differentiated product offerings in a
high growth industry that can rapidly scale into a national presence.”

Grayer continued, “We are grateful to Denise and Doug for their leadership
over the past seven years and look forward to their continued contributions as
members of the Board. Arthur Pergament has also played an important role at
Organic Avenue over the last year and we look forward to continuing to work
closely with him going forward.”

Based in New York City, Organic Avenue is the leading provider of organic cold
pressed juices, vegan food cleansing programs, snacks, superfoods, healthy
lifestyle education and community building events. The company helps people
learn how to maintain a healthy lifestyle that is pleasurable and sustainable
while also friendly to people, animals and the environment. Visit
http://www.organicavenue.com.

About Weld North

Weld North is an investment company concentrating on education, health and
wellness, consumer services and marketing businesses. In partnership with KKR,
a leading global investment firm, Weld North seeks to make control investments
in businesses with high potential for long-term growth in cash flow. With
strong and highly motivated management teams, the firm looks to accelerate
growth through an obsessive focus on enhancing the customer experience,
operational excellence, marketing expertise, and strategic and disciplined
management.

Contact:

Sloane & Company
Elliot Sloane, 212-446-1860
esloane@sloanepr.com
 
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