Blackstone Receives 'Deal of the Year' Award for Tropical Smoothie Café Acquisition
Deal News | Apr 24, 2025 | William Blair Capital Partners
Blackstone's acquisition of Tropical Smoothie Café has been recognized as the 'Deal of the Year' by Franchise Times in its 2025 Dealmakers project. The accolade reflects a significant achievement for Blackstone, a prominent player in alternative asset management, for its strategic purchase of the fast-casual restaurant chain. The recognition underscores the continued success of William Blair's Consumer Products & Services team, who advised Blackstone. This is part of a series of accolades for William Blair's clientele, including awards for Fiesta Restaurant Group and Hissho Sushi. The acquisition of Tropical Smoothie Café, a brand built on the mission to 'Inspire Better,' marks an emblematic addition to Blackstone's portfolio. Previously owned by Levine Leichtman Capital Partners, Tropical Smoothie Café operates over 1,400 locations across 44 states. The deal signifies Blackstone's sustained interest in expanding its presence within the consumer food and beverage sector.
Sectors
- Private Equity and Investment Management
- Food and Beverage Industry
- Franchising
Geography
- United States – The acquisition targets Tropical Smoothie Café, which operates in 44 states across the U.S., demonstrating significant domestic market activity.
Industry
- Private Equity and Investment Management – The acquisition involves significant participation from one of the world's largest alternate asset managers, Blackstone, and Levine Leichtman Capital Partners, highlighting the trends and activities in private equity transactions.
- Food and Beverage Industry – Tropical Smoothie Café, a fast-casual restaurant chain, falls under the food and beverage industry, which is the focus of the acquisition.
- Franchising – As a franchise with over 1,400 locations across the United States, Tropical Smoothie Café represents significant activity within the franchising sector.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Blackstone | Bidding Company/Buyer | Company | Blackstone is the world's largest alternative asset manager and the successful acquirer of Tropical Smoothie Café. |
| William Blair | Financial Advisor | Company | William Blair advised on the transaction, showcasing its expertise in consumer products and services. |
| Tropical Smoothie Café | Target Company | Company | A national fast-casual restaurant brand with more than 1,400 locations in 44 states. |
| Levine Leichtman Capital Partners | Selling Company | Company | A middle-market private equity firm that previously owned Tropical Smoothie Café. |
| Fiesta Restaurant Group | Other Company | Company | Client of William Blair and recipient of an award for its take-private acquisition by Authentic Restaurant Brands. |
| Hissho Sushi | Other Company | Company | Client of William Blair and recipient of an award for its sale to Brentwood Associates. |