Adds IPO market details and background on company

May 7 (Reuters) - Paine Schwartz-backed Suja Life's SUJA.O shares fell 14.3% in their Nasdaq debut on Thursday, giving the organic juice maker a valuation of $695.3 million.

The company's stock opened at $18, compared with its $21 offer price. It had sold 8.9 million shares in its initial public offering at the lower end of its marketed range of $21 to $24 apiece, raising $186.7 million.

The IPO market has opened up after a brief quiet period in March but investors remain selective about how they allocate capital.

The Oceanside, California-based company offers cold-pressed juices, wellness shots, and functional sodas. It owns a portfolio of brands including Suja Organic, Vive Organic and Slice Soda, which are made with organic, non-GMO and plant-based ingredients.

Health-conscious consumers are increasingly trading sugary drinks for better-for-you alternatives, creating a more favorable backdrop for brands positioned around wellness.

Last year, PepsiCo PEP.O inked an agreement to buy prebiotic soda brand Poppi for $1.95 billion, underscoring the big players' involvement in the healthy drinks space.

The debut marks the second IPO in the organic and health-focused consumer space this year, after children's food brand Once Upon a Farm OFRM.N went public in February.

Consumer IPOs in general have shown signs of revival after a sluggish 2025 following U.S. President Donald Trump's sweeping tariffs that dampened activity last year.
Back in 2015, Suja Life sold minority stakes to Goldman Sachs merchant banking division and to Coca-Cola KO.N, which included an option to buy Suja after three years.

In 2021, private equity firm Paine Schwartz Partners - which is focused on sustainable food chain investing - acquired Suja Life from Goldman Sachs Asset Management and co-investors.