Posted under Venture Capital
from http://www.pehub.com 799 days ago

Smoothie King Franchises, based in New Orleans, is being sold to SK USA, a South Korean company. Smoothie King currently has more than 600 units operating in 32 states, the Caymans and the Republic of Korea. Terms of the deal are not being disclosed, but Standard Charter Private Equity and National Pension Fund are “making a significant financial investment” in the brand, according to a release.

PRESS RELEASE:

SK USA, Inc. has agreed to purchase Smoothie King Franchises, Inc., both companies announced Monday. Smoothie King Co-founders Steve and Cindy Kuhnau to sell controlling interest of the Louisiana based company to SK USA, Inc., headed by CEO Wan Kim.

“The sale of Smoothie King represents terrific news for the future of our employees and Smoothie King Franchisees,” said President and CEO Steve Kuhnau. “Cindy and I have dedicated our lives to growing Smoothie King for nearly 40 years and share great ...

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