News

Tropical Smoothie Cafe under new ownership

August 17, 2012

Atlanta-based BIP Opportunities Fund has purchased controlling interest in Tropical Smoothie Café, a 315-unit food and smoothie franchise.

Scott Pressly, partner at BIP, assumes the role of chairman of the board, and Mike Rotondo, the franchise's former COO, has been promoted to CEO, according to a company press release.

Both Pressly and Rotondo lend extensive franchise industry experience to Tropical Smoothie Café and the efforts to grow the company. Pressly has held a variety of leadership and board positions with the International Franchise Association, and has a strong track record of financial investments in franchise brands. Rotondo has led the Tropical Smoothie Café brand for the past four years as Chief Operating Officer and personally steered the effort to expand TSC's healthy menu options with the introduction of flatbreads resulting in a MenuMasters Award by Nation's Restaurant News.

"We were attracted to TSC's passionate franchisee base and fresh, 'better-for-you' product offerings. We feel the company is well positioned for substantial growth," Pressly said in the release. "Our expansion plans will be to increase franchise sales by driving franchisee economics. When the franchisee wins, everyone wins."

Capitalizing on increasingly healthy trends in the marketplace, Tropical Smoothie Café's franchisees currently generate more than 50 percent of their sales from the chain's sandwiches, wraps and flatbreads. To further build on this trend, the marketing strategy will continue to focus on promoting the bold flavors and healthy food options at the cafés, Rotondo said.

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