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By Katie Little, CNBC

Kahala Brands, the owner of Blimpie and Cold Stone Creamery, has acquired frozen yogurt chain Pinkberry, it announced Monday.

Pinkberry frozen yogurt.Michael Buckner / Getty Images for Pinkberry

"It's an excellent strategic fit for our company and presents an exciting opportunity for future development," said Michael Serruya, Kahala Brands chairman and CEO, in a statement.

Terms of the deal were not disclosed.

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After opening in 2005, Pinkberry expanded quickly to 260 stores in 20 countries.

Kahala Brands' portfolio includes 18 fast food brands with about 3000 locations in 34 countries.