Published on: November 4, 2024
New Leadership to Build on Strong Momentum, Drive Continued Brand Growth, and Further Accelerate National Expansion
Roland C. Smith, a Highly Respected Leader in the Fast Casual Restaurant, Consumer-Packaged Goods, and Retail Sectors, Joins Board of Directors
Highlights Commitment to Innovation, Strong Franchise Relations, and Exceptional Guest Experiences
Tropical Smoothie Cafe today announced that Max Wetzel, a restaurant industry leader with a proven track record driving growth and innovation at some of the most iconic quick service restaurant brands, has been appointed Chief Executive Officer. Mr. Wetzel succeeds Charles Watson, who is stepping down after more than 16 years with Tropical Smoothie Cafe, including the past six years as CEO. Additionally, Tropical Smoothie Cafe announced that Roland C. Smith, a seasoned restaurant executive with more than 25 years of leadership experience, has joined its board of directors.
Tropical Smoothie Cafe began operating as a single location on a beach in Destin, Florida in 1997 and has grown into a nationally recognized brand with nearly 1,500 locations across 44 states. Known for its delicious menu of smoothies and healthy food offerings, the Company has delivered positive same-store sales for 13 consecutive years. Since the start of 2023 alone, Tropical Smoothie Cafe has opened more than 300 new locations, over 70 percent of which were opened by existing franchisees. Tropical Smoothie Cafe has been ranked #1 in the Smoothie/Juice Category by Entrepreneur Franchise 500 for four consecutive years and continues to thoughtfully expand its menu with new, craveable options to delight its millions of valued guests across the county.
Mr. Wetzel brings decades of experience successfully growing global brands and highly franchised restaurant businesses. Most recently, Mr. Wetzel served as CEO of CKE Restaurants Holdings, Inc., parent company of Carl’s Jr.® and Hardee’s®, overseeing more than 3,700 restaurants across 40 countries and territories. Prior to CKE Restaurants, Mr. Wetzel served as Chief Operating Officer of Papa John’s International, Inc., one of the largest franchisors of restaurants in the world. Throughout his career, his leadership has centered around creative initiatives, collaborative culture, and improved customer experience.
Mr. Smith is an experienced senior executive with a consistent track record of growing leading restaurant, retail and consumer brands. He has served as Chief Executive Officer of both public and private companies, including Delhaize America, LLC, Wendy’s/Arby’s Group, Inc., Wendy’s International, Inc., Triarc Companies, Inc., and Office Depot, Inc. He has also served as Chairman of numerous boards, including 24 Hour Fitness USA, Inc. and Carmike Cinemas, Inc., and additionally has served as a Director of Caliber, Inc. and Dunkin’ Brands, Inc. Currently, Mr. Smith is Chairman of Jack’s Family Restaurants and a Director of The Station Foundation.
“We are delighted to welcome Max and Roland, two industry executives of the highest caliber, to Tropical Smoothie Cafe as we continue to deliver exceptional service and high-quality products for our valued guests,” said Nigel Travis, Chairman of the Board for Tropical Smoothie Cafe. “Tropical Smoothie Cafe continues to redefine the smoothie and juice better-for-you food category with the support of our dedicated franchisees. Max’s commitment to fostering a people-first culture centered around operational excellence combined with his proven track record of expanding brand awareness through product innovation and best-in-class marketing capabilities will help Tropical Smoothie Cafe and our franchisees extend their strong momentum.”
Mr. Travis continued, “On behalf of the Board, I thank Charles for his service and numerous contributions to Tropical Smoothie Cafe, including overseeing its significant expansion and attracting new investment in the future of this special franchise. We wish him every success and know he will do great things in the future.”
“I am honored to have the opportunity to join Tropical Smoothie Cafe at this exciting stage of our growth journey,” said Mr. Wetzel. “Tropical Smoothie Cafe’s uniquely fun, tropical atmosphere, innovative, better-for-you menu and dedication to guests have solidified the Company as a nationally recognized leader in the fast casual industry. I am excited to join an organization with such a strong culture and commitment to ‘Inspiring Better’ in everything that we do. I look forward to working with our talented team to further support our franchisee community to showcase the Tropical Smoothie Cafe story and offer incredible experiences to more communities and guests every day.”
“I am so proud of what our support center team members and franchisees have accomplished during my time at Tropical Smoothie Cafe,” said Mr. Watson. “I am confident Tropical Smoothie Cafe is well positioned to build on our many achievements to date and to advance its rapid growth, and I remain invested in the success of Tropical Smoothie Cafe.”
Earlier this year, funds managed by Blackstone acquired Tropical Smoothie Cafe. This investment from Blackstone is intended to help accelerate Tropical Smoothie Cafe’s already-rapid expansion through continued investments in menu innovation, operating excellence and best-in-class marketing.
Peter Wallace, a Senior Managing Director at Blackstone, said: “Max’s extensive experience at leading global brands and national franchise businesses makes him an ideal leader to take Tropical Smoothie Cafe to the next level of growth and innovation. With Blackstone’s scale and resources behind the company, we are excited to invest in Tropical Smoothie Cafe’s continued expansion for its valued guests and franchisees.”
About Tropical Smoothie Cafe®
Tropical Smoothie Cafe is a national fast-casual restaurant brand built on a mission to Inspire Better®, a commitment that starts with our better-for-you food and smoothies and extends to inspiring better in the communities we serve. Born on a beach in 1997, today Tropical Smoothie Cafe has nearly 1,500 locations in 44 states. For the fourth year in a row, the brand was ranked #1 in the Smoothie/Juice Category by Entrepreneur Franchise 500. For 13 consecutive years the brand has received the Franchise Times Fast and Serious award, and in 2024 the brand’s FUND Score was 905, one of the top scores for franchise concepts analyzed by FRANdata. Tropical Smoothie Cafe is a portfolio company of Blackstone, the world’s largest alternative asset manager with a long history of successfully propelling the growth of leading franchisors.
