April 24 (Reuters) - Blackstone is buying

restaurant chain Tropical Smoothie Cafe for nearly $2 billion,

including debt, a person familiar with the matter said on

Wednesday.

The deal could be announced as soon as Thursday, the person

noted.

Blackstone and Tropical Smoothie did not immediately respond

to requests for comment.

Reuters had reported in December, citing sources, that

Levine Leichtman Capital Partners, the private equity owner of

Tropical Smoothie, was preparing to put the chain up for sale

for around $2 billion.

Levine Leichtman had acquired Tropical Smoothie, which was

launched in 1997, for an undisclosed sum in 2020, when it had

over 870 cafes.

The Atlanta-based company serves smoothies it bills as

healthy, as well as wraps and sandwiches, among other foods. It

now has more than 1,400 cafes in 44 states in the U.S.,

primarily through franchises.

The U.S. restaurant chain posted a positive increase in

same-store sales in the first quarter of 2024, primarily helped

by the launch of new menu items such as tropic bowls.