News

Edible Arrangements receives investment for global expansion

June 25, 2012

Edible Arrangements has received a capital investment from Catterton Partners that will be used to support the expansion of the brand globally. Terms of the transaction were not disclosed.

In addition, Edible Arrangements founder and CEO Tariq Farid said that Catterton Partners brings significant resources in areas from strategy to customer relations to supply chain management, which will help accelerate the company's growth.

"We believe the partnership between Edible Arrangements and Catterton is a perfect fit," Farid said. "Our ability to leverage the deep background and extensive resources of Catterton will enable us to grow the Edible Arrangements brand and build upon the great success that our franchise partners and talented employees have allowed us to achieve already. This literally will take us to the next level in terms of business development."

The Edible Arrangements concept was founded in 1999 by brothers Tariq and Kamran Farid. There are now more than 1,100 franchise locations open or under development worldwide. In 2011, the company opened 86 new stores, including 10 locations internationally, and expects to open more than 100 new domestic and international units in 2012.

"Edible Arrangements is one of the fastest-growing franchise operations in the U.S., capitalizing not only on the growth of special-occasion gifts, but also on the healthy food trend," said Scott Dahnke, managing partner of Catterton Partners. "With its unique offering, high-quality products and one-of-a-kind customer experience, backed by a strong franchise model and best-in-class management, Edible Arrangements has enjoyed tremendous success. "

Catterton's investments include Outback Steakhouse, Cheddar's, Noodles & Company, Baja Fresh Mexican Grill, P.F. Chang's China Bistro and Caribou Coffee.

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