Shake Smart CEO Kevin Gelfand will remain at the helm.| Photo: Shutterstock.
The private-equity firm NewSpring has invested in the smoothie concept Shake Smart, the firm said Thursday.
The investment comes through NewSpring Franchise, which is dedicated to franchise and multi-concept brands. The firm did not disclose whether it took a majority stake in Shake Smart Holdings LLC.
The concept, which has 45 units, mostly on college campuses, is known for its healthful menu of protein shakes, smoothies, acai bowls, wraps and avocado toasts. CEO Kevin Gelfand, who co-founded the chain in 2011, will remain at the helm, and NewSpring Franchise founders Satya Ponnuru and Patrick Sugrue will join Shake Smart’s board.
“Shake Smart was founded to provide healthy, delicious and nutrient dense food and beverages to students and consumers with increasingly on-the-go lifestyles,” said Gelfand, in…
