Blackstone to Acquire Tropical Smoothie Cafe to Propel Leading Franchisor’s Continued Expansion

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 c