Last Updated on 08/07/2021 by GS Staff
Is Tropical Smoothie Cafe Publicly Traded?
Tropical Smoothie Cafe is a private company. It does not have stock available for purchase by the general public. Furthermore, it does not have a stock symbol or trade on an exchange such as the NYSE or Nasdaq. Unfortunately, investors cannot buy Tropical Smoothie Cafe stock at this time.
Who Owns Tropical Smoothie Cafe?
The company is owned by the private equity firm, Levine Leichtman Capital Partners (LLCP). They acquired the smoothie chain of approximately 870 units in September 2020 after it performed extremely well during the pandemic. The acquisition was completed in a partnership with the existing management of Tropical Smoothie Cafe. The executive team that was in place prior to the acquisition continued in their roles including the CEO Charles Watson.
LLCP stated the following regarding the acquisition and working with the existing management team, “We are excited to partner with Charles and the rest of the management team who have led the tremendous growth of Tropical Smoothie Cafe. We look forward to working with them as they continue to increase system-wide sales, improve franchisee unit economics and expand unit count in the significant remaining whitespace.”
Based on the above, it appears on the surface that the acquisition of Tropical Smoothie Cafe was a friendly deal. Both the existing management and LLCP seem to be on the same page as they continue to fuel the strong growth of the company.
Will Tropical Smoothie Cafe Ever Be Public?
It’s tough to say whether Tropical Smoothie Cafe will ever be public. It’s not unusual for a private equity firm to acquire a company and then later bring it public. Look no further than Krispy Kreme Donuts who was public prior to going private in 2016 when it was acquired by JAB Holdings. Krispy Kreme then reemerged as a public company in 2021 when JAB filed an IPO for the donut maker.
In other words, there is nothing saying that Tropical Smoothie Cafe will always remain private. LLCP could certainly bring the company public at any time. However, until it happens, if ever, all you hear is speculation.
You shouldn’t expect to see a publicly-traded Tropical Smoothie Cafe any time soon. The business was relatively recently acquired by private equity. The PE firm likely has the desire to reap the benefits of Tropical Smoothie’s strong growth for the time being. Until there is an announcement that Tropical Smoothie Cafe is going public (if ever), we would rightfully assume that the company will remain private. In meantime, you’ll have to invest your money elsewhere.
Image Credit – Kzoo Cowboy/flickr
Coley, B. (2020, September). Levin Leichtman acquires Tropical Smoothie cafe. QSR magazine. https://www.qsrmagazine.com/fast-casual/levin-leichtman-acquires-tropical-smoothie-cafe.
Partners, L. L. C. (2020, September 8). Levine Leichtman Capital partners and Management acquire Tropical Smoothie cafe. Levine Leichtman Capital Partners and Management Acquire Tropical Smoothie Cafe. https://www.prnewswire.com/news-releases/levine-leichtman-capital-partners-and-management-acquire-tropical-smoothie-cafe-301125434.html.