Consumers are about to get an even bigger sweet tooth thanks to the recent purchase of frozen yogurt chain Pinkberry by Kahala Brands. Kahala owns 17 other quick-service chains, including Blimpie, Planet Smoothie, America’s Taco Shop and Cold Stone Creamery.
Frozen yogurt has had some tough times over the last few years. Between 1991 and 2005, the per capita frozen yogurt dropped by two pounds, resulting in 1.3 pounds, according to Fortune. But Pinkberry remained steadfast in its business plan and is credited with reinvigorating the industry. The brand has opened 260 stores in 20 countries since its inception in 2005.
The brand will become a welcome member to the Kahala Brands’ family, which includes 18 fast food brands with 3,000 locations spread across 34 countries. Kahala Brands’ chairman and CEO Michael Serruya is ecstatic about Pinkberry coming to the fold.
“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,” Serruya said in a statement. “It’s an excellent strategic fit for our company and presents an exciting opportunity for future development.”
Kahala Brands has been on a run lately of acquiring businesses. Over the past year, they have acquired Maui Waui and Tasti D-Lite.