Erewhon
About Erewhon
Company overview
Erewhon is a luxury health-food supermarket chain founded in 1966 by Michio and Aveline Kushi, with its headquarters located in Los Angeles, California. Originally established in Boston as a small macrobiotic and natural foods producer, the brand was a pioneer in the organic food movement in the United States. The company's name is an anagram of "nowhere," derived from Samuel Butler's 1872 satirical novel Erewhon, which depicts a utopia where individuals are responsible for their own health. In 2011, Tony and Josephine Antoci acquired the business and transformed it from a singular health food store into an upscale, celebrity-favored grocery brand. The company has since expanded significantly, particularly following a 2019 investment from the private equity firm Stripes Group. In June 2021, Erewhon became a certified B Corporation, reflecting its commitment to social and environmental standards. Business/Product Breakdown Erewhon operates as an high-end grocery retailer specializing in organic, ethically sourced, and nutrient-rich products. The company maintains multiple physical locations across Los Angeles County and offers nationwide shipping for its curated collections. Its product offerings include a wide array of organic produce, specialty health foods, dietary supplements, and a robust selection of prepared items such as gourmet sandwiches and sushi. A signature component of the brand's retail experience is its tonic bar, which features viral celebrity-collaboration smoothies made with premium ingredients. Beyond food and beverages, the company sells private-label "Erewhon Essentials," including branded apparel, bags, and household items. The company emphasizes a community-centric model, utilizing store design and high-value product curation to position grocery shopping as a lifestyle and wellness experience.
Keywords
Revenue
EBITDA
Valuation
| Line Item | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Revenues | $380 MM | $250 MM | $90 MM | $120 MM | $65 MM |
| Gross Profit | $190 MM | $125 MM | $45 MM | $60 MM | $32.50 MM |
| Net Income (Loss) | $43 MM | $25 MM | $9 MM | $12 MM | $6.50 MM |
| Line Item | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Total Assets | $850 MM | $720 MM | $680 MM | $650 MM | $600 MM |
| Total Liabilities | $450 MM | $400 MM | $380 MM | $350 MM | $320 MM |
| Total Equity | $400 MM | $320 MM | $300 MM | $300 MM | $280 MM |
Ratios
M&A2024-03-15Completed
Investor Sponsors NorthBridge PE | Stake Tags 100% |
Deal Amount $120M | Is PE deal Yes |
Target Company Valuation $1.20 MM | Is deal PE backed Yes |
Techniques Acquisition of Assets, Taken Private | Total Acquired 100% |
Investor Sponsors
Deal Amount
$120M
Target Company Valuation
$1.20 MM
Techniques
Acquisition of Assets, Taken Private
Stake Tags
100%
Is PE deal
Yes
Is deal PE backed
Yes
Total Acquired
100%
Secondary Transaction2023-09-01Canceled
Investor Sponsors -- | Stake Tags Majority |
Deal Amount Undisclosed | Is PE deal No |
Target Company Valuation -- | Is deal PE backed Yes |
Techniques Secondary Sale, Management Buy-out (MBO) | Total Acquired 65% |
Investor Sponsors
--
Deal Amount
Undisclosed
Target Company Valuation
NaN
Techniques
Secondary Sale, Management Buy-out (MBO)
Stake Tags
Majority
Is PE deal
No
Is deal PE backed
Yes
Total Acquired
65%
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