Tropical Smoothie Café, a chain of 270 quick casual restaurants in 34 states, has raised $4.4 million in growth equity funding from BIP Opportunities Fund.
BIP Opportunities Fund (BIP) announced a $4.4 million growth capital investment into Tropical Smoothie Café (TSC) enabling the company to accelerate its franchise development efforts. The BIP investment will allow TSC to begin the ‘buy-back’ of certain franchised territories operated by area developers providing those franchisees a direct link to TSC’s corporate office support. In addition, the capital infusion will allow TSC to invest in new technologies, personnel and operational infrastructure to significantly ramp up their franchise sales and support efforts.
“Tropical Smoothie Café is not your traditional smoothie concept but rather an attractive quick casual restaurant brand that continues to derive greater than 50% of their revenues from a creative assortment of gourmet wraps, signature sandwiches, flatbreads and salads,” said Scott Pressly, a managing partner at BIP. “Consumers love the mix of freshly made sandwiches and real fruit smoothies. Now we can build the infrastructure required to significantly accelerate the franchise growth of the business and bring Tropical Smoothie Café to new cities across the country.”
“BIP brings so much to the table – experience, contacts and capital in one shop,” said Eric Jenrich, CEO and co-founder of TSC. “With their counsel and resources, we’ve clearly defined our growth strategy and are putting into place the right people and infrastructure to substantially expand the Tropical Smoothie Café brand.”
About Tropical Smoothie Café®
Tropical Smoothie Café® franchises a chain of more than 270 quick casual restaurants in 34 states offering fresh, made to order food and real fruit smoothies served in our unique tropical environment. Customers can taste the bold flavors in our freshly prepared toasted wraps, bistro sandwiches, grilled flatbreads and gourmet salads. We offer breakfast, lunch and dinner and our fresh food and smoothies are the perfect escape from everyday food. We use only the highest quality products including artisan breads, premium meats and cheeses, bold and flavorful sauces, and fresh produce. Our smoothies have always been made with real fruit and our unique combinations are packed with flavor and nutrition. For more information, visit www.tropicalsmoothiecafe.com.