BIP Opportunities Fund (BIP) announced a $4.4 million growth capital investment into Tropical Smoothie CafÃ© (TSC) enabling the company to accelerate its franchise development efforts. The BIP investment will allow TSC to begin the â€˜buy-backâ€™ of certain franchised territories operated by area developers providing those franchisees a direct link to TSCâ€™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.
â€œTropical Smoothie CafÃ© 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,â€ said Scott Pressly, a managing partner at BIP. â€œConsumers 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 CafÃ© to new cities across the country.â€