Wallingford, Conn. -- Edible Arrangements announced on Friday a strategic partnership with private equity firm Catterton Partners, which includes a capital investment toward expanding the Edible Arrangements 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 accelerate the company's ability to reach new levels of growth.
"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,” said Farid.
Edible Arrangements currently has more than 1,100 franchise locations open or under development worldwide. In 2011, the company opened 86 new stores, including 10 locations internationally, and said it expects to open more than 100 new domestic and international units in 2012.
Catterton's current retail investments include: Restoration Hardware, Outback Steakhouse, Cheddar's, Noodles & Co., and Mid-Atlantic Convenience Stores.