Blackstone to Acquire Tropical Smoothie Cafe to Propel Leading Franchisor’s Continued Expansion
Blackstone Inc. (BX)
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Source: Business Wire
ATLANTA & NEW YORK--(BUSINESS WIRE)--Blackstone announced today that private equity funds managed by Blackstone (“Blackstone”) have entered into a definitive agreement to acquire Tropical Smoothie Cafe, a leading franchisor of fast casual restaurants, from Levine Leichtman Capital Partners. This would be the first transaction from Blackstone’s most recent vintage of its flagship private equity vehicle, and is intended to help accelerate Tropical Smoothie Cafe's already-rapid expansion through continued investment in menu innovation, operating excellence, and best-in-class marketing.Blackstone has a long history of successfully propelling the growth of leading franchisors, including in its previous acquisitions of Hilton Hotels and SERVPRO. Tropical Smoothie Cafe began operating as a single location on a beach in Destin, Florida in 1997, and has grown into a nationally recognized brand with more than 1,400 locations in 44 states across the U.S. today. Known for its delicious mix of
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