‘Private Equity Firm Acquiring Tropical Smoothie Café’
Blackstone, a private equity firm based in New York, has announced its plans to acquire Tropical Smoothie Café, a franchisor of fast casual restaurants headquartered in Atlanta. The acquisition is part of Blackstone’s strategy to further expand the leading franchisor’s presence in the market. While the financial terms of the deal have not been disclosed, reports estimate the transaction to be valued at around billion.
Peter Wallace, a Senior Managing Director in Blackstone’s Private Equity business, expressed confidence in the growth potential of Tropical Smoothie Café, citing the brand’s loyal customer base and nationwide scale. Blackstone’s expertise in accelerating the expansion of franchise businesses positions them well to support Tropical Smoothie Café’s future success and innovation for the benefit of both guests and franchisees.
CEO of Tropical Smoothie Café, Charles Watson, emphasized the importance of delivering an exceptional experience to each guest, highlighting the brand’s commitment to quality products and excellent customer service. With Blackstone’s global resources backing the brand, Watson is optimistic about the continued growth and development of Tropical Smoothie Café.
Established in 1997 with a single location in Destin, Fla., Tropical Smoothie Café has since expanded to over 1400 locations across 44 states. The acquisition by Blackstone marks a significant milestone for the franchisor as it looks towards continued growth and success in the fast casual restaurant industry.
