Orange County Register

Pinkberry, a frozen yogurt chain that’s built a cult-like following for its swirly fruit-topped desserts, announced today that a Seattle private equity firm will invest $27.5 million in the chain.

The firm, Maveron, co-founded by Starbucks Chairman Howard Schultz, said it wants to expand the loyal following Pinkberry has built in Los Angeles and New York. Last week, the 33-unit chain opened its first Pinkberry in Orange County.

In a prepared statement released today, Schultz said Pinkberry founders, Shelly Hwang and Young Lee, are visionary entrepreneurs who created an amazing product.

“As a result, consumers return to the stores again and again while spreading an authentic word-of-mouth endorsement that’s enabled the brand to become a cultural phenomenon,” he stated.

Pinkberry made its Orange County debut to long snaking lines at the Bella Terra mall in Huntington Beach last week. The chain also has shops planned for Fashion Island in Newport Beach, The City Place in Santa Ana, The District in Tustin, the Irvine Spectrum and Imperial Promenade in La Habra.

To read the full Maveron and Pinkberry announcement, CLICK HERE.

Related:

• Frogurt frenzy
• Pinkberry setting up shop in Orange County
• Retail centers battle over Pinkberry bragging rights

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