OakBerry, the Brazil-based açaí chain with hundreds of locations in South America, is preparing to open several new locations in Los Angeles, including a site in Long Beach at 4913 E. 2nd St.
The new site will replace Engels & Völkers in Belmont Shore, according to Longbeachize. Franchisee JP Bianchini tells What Now Los Angeles that this location is expected to open in January 2025. This is just the beginning for Oakberry, as the company has four more development sites in Los Angeles. The expansion comes after OakBerry successfully raised $67 million through a Series C funding round at the beginning of the year.
As a result of this finding, the açaí brand expects to reach over $200 million in revenue and nearly 1,000 stores globally by the end of 2024. After this year, it seems the expansion plans are only ramping up, especially in Los Angeles. After Belmont Shore, the brand will open a location in Manhattan Beach in February 2025, followed by another opening in Hollywood at the Ovation Hollywood shopping center the next month. Then, in the second quarter of 2025, Oakberry will open a site in Studio City, followed by a location in San Pedro’s West Harbor Development in the fourth quarter of 2025.
“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,” Georgios Frangulis, CEO and Co-Founder of OAKBERRY, said in a press release. “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.”
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 OAKBERRY’s leadership team and BTG Pactual, will lead the açaí brand to 200+ U.S. stores while also tripling its European footprint by 2026.
