Superfood brand Oakberry and Portuguese private equity firm Fortitude Capital have entered into a strategic partnership, in the form of a joint venture, to drive the Brazilian company's growth in Spain, Portugal and Italy. So far, Oakberry's proposition has seen rapid growth thanks to its bowls and smoothies made from açaí, the fruit of a palm tree species from Brazil's Amazon rainforest.

Açaí is an abundant source of energy, rich in antioxidants and completely natural. The company prepares it without using any high fructose corn syrup or artificial colours. It now has over 800 outlets in 40 countries, combining fast service with sustainable sourcing, organic ingredients and customisable menus.

Tripling the number of shops
The joint venture will leverage Fortitude Capital's expertise in the different industries in which it invests to drive Oakberry's growth through a franchise model. It aims to triple the number of shops in the three countries within the next five years and strengthen Oakberry's position in the region. Expansion will be led from Fortitude's home country of Portugal, where the joint venture will be headquartered.

Oakberry CEO and Co-founder Georgios Frangulis said, “We are very pleased to partner with Fortitude Capital to form a business collaboration that will further accelerate our growth in Portugal, Spain and Italy. Through our product proposition and offering, our brand has experienced strong and consistent consumer acceptance since 2019 thanks to the leadership of our Master Franchisees, in particular Ricardo Cherto, in Portugal. Now, joining forces with Fortitude's extensive experience and local knowledge will be fundamental to our long-term vision and the next chapter of our brand's expansion into high-demand countries.”

Globally recognised brand
Fortitude Capital CEO and Co-founder Antonio Esteves added, “We are delighted to announce the progression of our business partnership with Oakberry, a globally recognised brand. With its experienced management team and proven success, we have full confidence in our expansion strategy for Portugal, Spain and Italy. We are looking forward to achieving great things.”

Founded in Brazil in 2016 by Georgios Frangulis and Renato Haidar, Oakberry is on a mission to become a fast-service superfood brand that is “delicious, easy and fun to eat, and accessible to everyone”.

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