Blackstone is buying restaurant franchiser Tropical Smoothie Cafe, which has over 1,400 locations in 44 states across the U.S., from private-equity firm Levine Leichtman Capital Partners, people familiar with the matter told The Wall Street Journal’s Miriam Gottfrie. The deal, which values the smoothie chain at around $2B, including debt, could come as soon as Thursday, according to the report.
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