Edible Arrangements, a maker of hand-sculpted, fresh-fruit arrangements, has announced a strategic partnership with Catterton Partners that includes a capital investment to support global expansion. Terms were not disclosed. Founded in 1999 by brothers Tariq and Kamran Farid, Edible Arrangements has more than 1,100 franchise locations open or under development worldwide. In 2011 the company opened 86 new stores, including 10 international locations, 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. Catterton is an NCN Cornerstone Investor.
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