Blackstone Acquires Tropical Smoothie Cafe from Levine Leichtman Capital Partners

Blackstone to Acquire Majority Stake in Skroutz

May 12, 2026

E-Commerce

Blackstone, through funds managed by its private equity business, has entered into a definitive agreement to acquire a majority stake in Skroutz, Greece’s leading online e-commerce marketplace, from CVC Capital Partners Fund VII. The transaction is expected to close in the second half of 2026, subject to regulatory approvals, with Skroutz founders selling part of their shares while retaining a stake and continuing to lead the business.

Blackstone Real Estate Acquires Village Hotels from KSL Capital Partners

June 26, 2024

Restaurants & Hospitality

Funds managed by Blackstone Real Estate have completed the acquisition of Village Hotels from affiliates of KSL Capital Partners. Village Hotels owns and operates 33 hotels across the United Kingdom (approximately 4,400 keys) with integrated fitness clubs, food & beverage outlets and co-working spaces; Blackstone said it plans to expand the number of hotels in the UK and enhance existing facilities.

Blackstone Growth Makes Growth Investment in 7 Brew Coffee

February 14, 2024

Restaurants & Hospitality

Blackstone Growth (Blackstone) has made a growth equity investment in 7 Brew Coffee to accelerate the drive-thru beverage chain's U.S. expansion. Jimmy John Liautaud is identified as a selling shareholder; terms were not disclosed.

Levine Leichtman Capital Partners and Management Acquire Tropical Smoothie Cafe

September 8, 2020

Restaurants & Hospitality

Levine Leichtman Capital Partners (LLCP) partnered with Tropical Smoothie Cafe's management team to acquire Tropical Smoothie Cafe, a leading franchisor of fast-casual cafes with over 870 units across 44 states. The company will continue to be led by CEO Charles Watson and the existing executive team as LLCP works with management to grow unit count, improve franchisee unit economics and expand system-wide sales; debt financing was provided by Golub Capital.

Swander Pace Capital Acquires Café Valley

September 10, 2019

Food & Beverage

Swander Pace Capital acquired Café Valley, a leading wholesale bakery with production facilities in Phoenix, AZ and Marion, IN, to expand its consumer food portfolio. Stellus Capital Management provided senior debt financing and an equity co-investment to support the transaction; Café Valley's existing CEO Brian Owens will remain in place.

Millstone Capital Advisors Acquires Native Foods

June 18, 2018

Restaurants & Hospitality

St. Louis-based private equity firm Millstone Capital Advisors has acquired Native Foods, a Chicago-based plant-focused fast-casual restaurant chain with 13 locations across California, Colorado, Oregon and Illinois. Millstone said the investment will provide resources to support Native Foods' expansion while maintaining the brand's plant-based mission and operations under existing management.