Blackstone set to purchase Tropical Smoothie Cafe for nearly $2 billion

New York City-based private equity firm Blackstone announced Wednesday that it was entering into an agreement to purchase Tropical Smoothie Cafe, for what has been reported to be a $2 billion deal.In a press release, Blackstone said it entered into an agreement with Levine Leichtman Capital Partners to purchase Tropical Smoothie Cafe. It marks the first transaction from Blackstone’s private equity vehicle, the release read, and is intended to speed up the franchise’s already-rapid ex