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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BX:
- UK Stocks: Hipgnosis Songs Fund Soars as Blackstone’s Bid Sparks Takeover Battle
- Blackstone bid for Hipgnosis receives backing from board
- Blackstone price target lowered to $114 from $117 at TD Cowen
- Blackstone price target lowered to $132 from $141 at BofA
- Blackstone price target lowered to $100 from $105 at JPMorgan
