News

Pinkberry announces new growth capital, expansion agreements

May 3, 2009

LOS ANGELES — Pinkberry has announced two significant milestones — more than $9 million of new funding from both current and new investors as well as global and national expansion agreements.

Pinkberry has signed its first global expansion agreement with M.H. Alshaya Co., a leading international operator, to expand the brand into the Middle East.M.H. Alshaya Co., which also operates leading global brands such as Starbucks, Dean & Deluca and Le Pain Quotidien, plans to open 35 Pinkberry stores in nine countries throughout the Middle East.

Pinkberry also announced three new partnerships focused on domestic expansion in Northern California. Pinkberry has signed an agreement with HMSHost, a leading retail operator of specialty travel venues operating in more than 80 percent of U.S. airports, which will open their first Pinkberry store at Los Angeles International Airport (LAX) in Terminal 1. Additionally, Pinkberry will develop a minimum of 30 stores in the San Francisco Bay Area and Sacramento market following the successful recent opening of its Bay Area flagship store in San Jose, Calif.