Fast-food firm’s acai bowls have proven popular in Dublin. Will they spread across the country?
Oakberry produces acai bowls – a frozen smoothie-like dessert, and has over 400 outlets across 43 countries.
The brand’s acai bowls typically comprise toppings that include seasonal fruit, peanut butter and chia seed pudding.
Its stores also offer personalised smoothies and acai snack bars.
Oakberry Ireland plans to have 18 to 20 shops by the end of next year. The master franchise holder was set up by Ben Mulligan, Nick Twomey and Cian O’Donoghue, who opened their first shop in 2023.
It has six outlets and two under construction, one in the Ilac Centre and the other in Blanchardstown, which are set to open before the end of the year. The franchise holders are eyeing locations in Kildare Village and Cork for next year, with others in the “legal stages”. The company has property firm Bannon as its property acquisition agent.
When we see global brands coming here, we feel a sense of reach
Speaking with the Sunday Independent, Mulligan and Twomey said investment next year could top €1.5m. Including franchisees, the group employs 80 people, which could rise to around 250 by the end of next year.
Twomey added that the business was open to outside investment and has had good conversations with professional services firm BDO about EIIS schemes.
Twomey said demand was the key driver behind its plans to expand.
“We have so many people travelling to our stores. On the weekend, we’d have queues out the door,” he said.
“Seeing that sort of demand is obviously something you take on board and say: ‘Can we look at other areas where this might work?’
“Once we get a key site and find an area where we think it’ll be a success, I feel it’s a no-brainer. But we are very particular where we pick.”
People used to think coffee was just a fad. Acai is definitely here to stay
Mulligan said Irish consumers seem to respond well to new international brands launching. US fast-food giants such as Krispy Kreme have reported that some of their Irish stores are among the most profitable anywhere.
“I think we have a fascination with: ‘Why we don’t have that in Ireland yet?’ We want the big stuff to come here,” he said.
“When we see global brands coming here we feel a sense of reach.”
From left, Cian O’Donoghue, Ben Mulligan and Nick Twomey
Twomey and Mulligan said the shift by younger consumers towards treats such as acai bowls is not just a fad.
“It is definitely here to stay,” said Mulligan. “I am sure in the 1990s and early 2000s that people used to think coffee was just a fad, as it was just breaking into the scene. But look at the coffee culture we have here now. That’s what we are looking at.”
Twomey and Mulligan already own the Mr French coffee shop in Dublin city centre.
In December 2023, Brazilian-based Oakberry raised 325 million reais (€52m) in an investment round led by BTG Pactual-managed funds. The brand was founded in 2016 and has already been backed by asset manager Kilima Asset.