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DRAFT Smoothie King Proposed Changes

Corporate history

Smoothie King was founded in 1973 in Kenner, Louisiana, by Steve and Cindy Kuhnau.[1]

The company expanded internationally in the early 2000s, with its first overseas franchise opening in South Korea in either 2002 or 2003.[2] Within six years, franchisee Wan Kim had opened more than 100 locations in the country.[3]

In 2012, Kim acquired Smoothie King from the Kuhnaus and secured US$58 million in growth capital from Standard Chartered Private Equity and the National Pension Fund of Korea to expand the brand.[4] His growth plans included adding 800 new franchises, opening 200 corporately owned stores, and expanding the menu with salads and wraps, which in South Korea accounted for more than 20% of sales.[5]

Per-store revenue increased from about $285,000 in 2009 to $362,000 in 2012.[6] Corporate-wide revenues were reported as $372.5 million in 2017 and $415.7 million in 2018.[7] In 2023, Smoothie King reported about US$644 million in sales.[8]

In early 2014, Smoothie King entered into a naming rights agreement with the NBA’s New Orleans Pelicans to rename the New Orleans Arena as the Smoothie King Center.[9][10] The 10-year contract runs from 2014 to 2024, with an option to extend through 2034. As part of the agreement, all Smoothie King products underwent testing to ensure compliance with NBA banned-substance rules, a process that continues annually.[11]

Since acquiring the company, Wan Kim has continued to serve as chief executive officer.[4] Under his leadership, the company has appointed several senior executives, including Jyoti Lynch as chief information officer in 2024,[12] Claudia Schaefer as chief marketing officer in 2025,[13] and Gavin Felder as president and chief financial officer later that year.[14]

On July 10, 2025, San Francisco–based Main Post Partners acquired a minority stake in Smoothie King to support the brand’s next phase of growth.[15]

  1. ^ Riebel, Monica (March 12, 2009). “Smoothie King founder blended healthy drinks into multimillion-dollar chain”. The Times-Picayune. Retrieved 2025-08-11.
  2. ^ Franchise Times staff (2003). “Smoothie King Opens First Location in South Korea”. Franchise Times. Retrieved 2025-08-11.
  3. ^ “South Korean franchisee grows Smoothie King overseas”. QSR Magazine. 2008. Retrieved 2025-08-11.
  4. ^ a b Hui, Ann (July 2012). “South Korea’s Wan Kim buys Smoothie King”. The Globe and Mail. Retrieved 2025-08-11.
  5. ^ “Smoothie King CEO plots U.S. expansion”. QSR Magazine. 2012. Retrieved 2025-08-11.
  6. ^ Taylor, Kate (2012). “Smoothie King revenue grows under new ownership”. QSR Magazine. Retrieved 2025-08-11.
  7. ^ “Smoothie King financials show steady growth”. Nation’s Restaurant News. 2019. Retrieved 2025-08-11.
  8. ^ “Smoothie King sales reached $644M in 2023”. Restaurant Dive. 2024. Retrieved 2025-08-11.
  9. ^ Cite error: The named reference 2014-02-06 USA Today was invoked but never defined (see the help page).
  10. ^ Sayre, Andrew (February 6, 2014). “Pelicans, Smoothie King reach 10-year naming rights deal”. ESPN. Retrieved 2025-08-11.
  11. ^ “NBA requires Smoothie King testing”. ESPN. 2014. Retrieved 2025-08-11.
  12. ^ “Smoothie King names Jyoti Lynch CIO”. Restaurant Dive. November 2024. Retrieved 2025-08-11.
  13. ^ “Smoothie King Names Claudia Schaefer Chief Marketing Officer”. Dallas Innovates. January 29, 2025. Retrieved 2025-08-11.
  14. ^ “Smoothie King names CFO Gavin Felder president”. Restaurant Dive. May 22, 2025. Retrieved 2025-08-11.
  15. ^ Maze, Jonathan (2025-07-10). “Smoothie King gets an investment from a private-equity group”. Restaurant Business. Retrieved 2025-08-11.