Açaí Brand OAKBERRY Raises $67 million in Series C Funding with BTG Pactual to Grow U.S. Restaurant Footprint
Summary
The new partnership will accelerate OAKBERRYs global expansion strategy, most notably through rapid growth in the United States market.Founded in 2016 with the ambition to make better-for-you food more easily accessible, the company currently has approximately 700 stores across more than 40 countries. The strategy to invest in corporate stores in high demand markets, like the United States, represents an excellent opportunity for capital allocation while, at the same time, establishing our brand in these regions," said Georgios Frangulis, CEO and Co-Founder of OAKBERRY.Since the arrival of Bruno Cardinali as Global Head of Marketing and Leandro Gasparin as Head of Business North America, the pair both alumna from dominating restaurant chains Burger King and Popeyes have guided OAKBERRY through an aggressive expansion in the U.S. and globally, opening more than 150 new stores in 2023 alone. Now, with 35 locations in the U.S., Cardinali and Gasparin, in partnership with OAKBERRYs leadership team and BTG Pactual, will lead the a\xe7a\xed brand to 200+ U.S. stores, while also tripling its European footprint by 2026.In addition to its corporate stores in the United States, the chain is exploring co-investments in countries such as Australia and Portugal as additional markets of importance for funding allocations from the capital round.This latest funding round represents the third time OAKBERRY has strengthened its capital structure. OAKBERRYs sustainable sourcing and operation, with clear ESG metrics monitored by external auditing companies, was one of the key elements that caught the attention of BTG Pactuals impact fund. BTG Pactual has established itself as one of the most innovative investment platforms in the country, with a complete transactional bank to support the moment in life and the construction of its clients stories.