Blackstone to Acquire Tropical Smoothie Cafe to Propel Leading Franchisor's Continued Expansion [Yahoo! Finance]
Hilton Worldwide Holdings Inc. (HLT)
Last hilton worldwide holdings inc. earnings: 2/11 06:00 am
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Source: Yahoo! Finance
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 smoothies and food offerings, the company opened more than 175 new locations in 2023 alone, 70 percent of which were opened by exist
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HLT
Earnings
- 4/24/24 - Beat
HLT
Sec Filings
- 4/26/24 - Form S-3ASR
- 4/24/24 - Form 10-Q
- 4/24/24 - Form 8-K
- HLT's page on the SEC website