Refreshment focuses on the water dispenser/cooler, office coffee service and vending sectors, while also taking an in-depth look into products for vending from bottled water and drinks, to snacks and confectionery. It also focuses on hydration, health and wellness, new technologies and environmental and social responsibility issues.
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Investment management company Blackstone has confirmed the acquisition of Tropical Smoothie Café, a fast-casual restaurant franchisor, from Levine Leichtman Capital Partners.
Peter Wallace, senior managing director, and Michael Staub, managing director of Blackstone’s Private Equity business, stated: “Tropical Smoothie Café is a nationally recognised brand with an impressive growth trajectory underpinned by a base of loyal franchisees and guests".
"With Blackstone’s capital and resources, we look forward to accelerating the Company’s continued expansion across the country and supporting innovation to further capitalise on the brand’s unique positioning.”
Tropical Smoothie Café embraces Inspire Better, a commitment rooted in its dedication to offering better-for-you food and smoothies while also striving to inspire positive change within the communities it serves.
Charles Watson, CEO of Tropical Smoothie Café, added: “By partnering with Blackstone, Tropical Smoothie Cafe will be able to Inspire Better in more communities nationwide alongside our dedicated franchisees. 2024 will be another big year in our growth trajectory, as we focus on operational excellence, menu innovation, and the digital guest experience.”
Terms of the transaction were not disclosed.
#TropicalSmoothieCafé #US
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