On Monday, Kahala Brands announced its acquisition of popular frozen yogurt chain, Pinkberry. The 10-year-old chain joins 17 others in Kahala’s portfolio, including Cold Stone Creamery, Blimpie, and Planet Smoothie.
In an official release, Michael Serruya, chairman and chief executive officer of Kahala Brands, says, “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… It’s an excellent strategic fit for our company and presents an exciting opportunity for future development.”
According to Fortune, frozen yogurt sales fell between 1991 and 2005, from two pounds to 1.3 pounds per capita. Pinkberry, which opened in 2005, is often credited with reigniting the frozen yogurt craze; in 10 years, it has opened 260 stores in 20 countries, according to Consumerist.
Though some predict that frozen yogurt will be the next trendy dessert to fall to the wayside (e.g. Crumbs cupcakes), perhaps this acquisition will bring new life to Pinkberry.