Kahala Brands has acquired Santa Monica, California-based frozen yogurt brand Pinkberry. No financial terms were disclosed. Pinkberry was backed by Maveron.
SCOTTSDALE, Ariz., Dec. 14, 2015 /PRNewswire/ — Kahala Brands™ (www.KahalaBrands.com), a global leader in the QSR industry, along with its associated companies, announced today that it has acquired the super-premium frozen yogurt brand, Pinkberry®, based in Santa Monica, California.
“The Pinkberry brand is known worldwide for its super-premium frozen yogurt and truly is the concept that reignited the frozen yogurt category over a decade ago,” said Michael Serruya, chairman and chief executive officer of Kahala Brands. “With over 260 stores in 20 countries, Pinkberry has a history of exceptional growth in just 10 years because of the product quality, flavor profile and personality of the concept. We very much look forward to bringing the support services and best practices we have from within Kahala Brands and aligning with the Pinkberry franchisees to help maximize the brand’s potential for continued evolution and success. It’s an excellent strategic fit for our company and presents an exciting opportunity for future development.”
Pinkberry opened its first location in West Hollywood, California in 2005 and since then has become the most talked about, best-tasting frozen yogurt around. Made with high-quality and fresh ingredients, Pinkberry is the original tart frozen yogurt with a one-of-a-kind taste that is truly unique to the brand. From store design, to exceptional customer service, to the irresistible flavor profile, Pinkberry provides a social experience that indulges the senses. The concept’s distinctive flavors are expertly crafted to complement its daily fresh-cut fruit and premium toppings that together offer an incomparably refreshing taste.
Kahala Brands will consolidate the California-based corporate operations and run the franchising platform for the brand from its headquarters in Scottsdale, Arizona. The buyer was advised by Levy Capital Partners in connection with this transaction.
About Levy Capital Partners
Levy Capital Partners is a boutique merchant banking firm that combines top-tier investment banking with an intense focus on enhancing value and achieving each client’s objectives. Bringing extensive transactional and tactical expertise, the firm focuses primarily on M&A and capital raising for small-cap, mid-cap and private companies with significant potential for value-creation.
For more information about Levy Capital Partners, visit www.LevyCP.com.
Pinkberry launched in Los Angeles, Calif. in 2005 as the original brand that reinvented frozen yogurt and over a decade later has more than 260 stores in 20 countries. Today, Pinkberry continues to create great tasting treats with fresh ingredients in an experience comprised of distinctive product, outstanding service and inspirational design. At Pinkberry you can taste the difference of an uncompromising commitment to quality and freshness.
For more information about Pinkberry®, visit www.Pinkberry.com.
About Kahala Brands™
Headquartered in Scottsdale, Ariz., Kahala Brands is one of the fastest growing franchising companies in the world with a portfolio of 18 quick-service restaurant brands with approximately 3000 locations in 34 countries including Cold Stone Creamery®, Blimpie®, TacoTime™, Pinkberry®, Samurai Sam’s Teriyaki Grill®, The Great Steak & Potato Company™, NrGize Lifestyle Cafe™, Surf City Squeeze®, Planet Smoothie®, tasti D-lite™, Maui Wowi®, Johnnie’s New York Pizzeria™, Cereality®, Kahala Coffee Traders® , Frullati Cafe & Bakery™, Rollerz™, Ranch One® and America’s Taco Shop®.
For more information about Kahala Brands™, visit www.KahalaBrands.com.