National Fast Casual Brand
Tropical Smoothie Cafe
Investment Date: August, 2012
(Exited September 2020)
Tropical Smoothie Café is a quick-casual restaurant serving both food and smoothies. It is a brand built on the belief that superior, simple ingredients including real fruits and veggies just taste better, a belief that extends both to its smoothies, and to a food menu that includes wraps, flat breads, pressed sandwiches and salads. The breadth of menu allows the brand to participate in all dayparts, and to be ideal for snacking.
From its roots as a single location on a beach in Destin, Florida, Tropical Smoothie Café has grown to over 870 locations nationwide, and in 2020 was ranked by National Restaurant News as 5th fastest growing restaurant chain in America.
Eric Jenrich and David Walker, Co-Founders
Eric Jenrich and David Walker founded Tropical Smoothie Franchise Development Corp. in 1997. By 2006, Tropical Smoothie Café opened its 200th location in Virginia Beach, VA. In 2012, BIP Capital, led by Scott Pressly, acquired a controlling interest in Tropical Smoothie Café. In September 2020, Tropical Smoothie Café was sold to Levine Leichtman Capital Partners.
Until exit, Eric and David remained highly active in decision making at Tropical Smoothie Café through their membership of the Board and as active shareholders.