Açaí brand Oakberry to explore co-investment opportunities in Australia
The brand recently raised nearly $100m in a Series C funding round.
Oakberry is looking to expand its presence in Australia via co-investments after the brand raised US$67m ($99.71m) in a Series C funding round
According to the brand, it has marked Australia as an important market in its expansion plans and will be allocating for funds to it from its capital raise.
The round was raised through funds managed by the Brazilian investment bank BTG Pactual (BPAC11) – the largest investment bank in Latin America, including an impact fund portfolio.
The funding will help accelerate the brand's plans to reach nearly $300m in revenue and increase its store coin to 1,000 by the end of 2024.
"We designed OAKBERRY to be a global brand with a strong footprint in the United States, and the investment from BTG Pactual brings not only a financial partner but also a strategic partner with a keen focus on reinforcing our expansion. The strategy to invest in corporate stores in high-demand markets, like the United States, represents an excellent opportunity for capital allocation whilst, at the same time, establishing our brand in these regions," said Georgios Frangulis, CEO and Co-Founder of Oakberry.
Founded in 2016, Oakberry has over 700 stores across more than 40 countries.
