From the rise of GLP-1 drugs to backlash against artificial ingredients, current wellness trends are fueling growth for Smoothie King.

“There are significant industry tailwinds behind what we’re doing,” said Gavin Felder, the chain’s president and CFO. “What we’ve learned is people are a lot more conscious about what choices they’re making. A lot of people are focusing on protein now and on fiber and all those good things.”

Founded more than 50 years ago, the privately held chain takes credit for inventing the word “smoothie” and popularizing the health drinks. CEO Wan Kim, previously a franchisee for the brand in South Korea, has owned Smoothie King since 2012. Last year, the company sold a minority stake to private equity firm Main Post Partners and said the deal would help Smoothie King accelerate growth and innovation.

“If you start the clock [in 2012], we’ve been growing system sales at a compound rate of double digits since then,” said Felder, who joined the company two years ago after spending 16 years with KFC owner Yum Brands.

Over the past five years, Smoothie King has grown its number of locations by about 23%, the company told CNBC. The chain’s system-wide sales have increased roughly 64% over that period.

In 2025, the company recorded revenue of $66.16 million, up 4% from the prior year, according to franchise disclosure documents. Its net income, however, fell about 6% to $14.84 million. At the end of the year, Smoothie King had more than 1,200 locations. Franchisees operate more than 96% of the chain’s stores.

Now, as consumer tastes shift more toward maximizing nutrients, protein and fiber, the chain sees an opportunity to both improve its existing locations and build new ones.

In April, Smoothie King announced a new store design with what the company called more “warmth” and “approachability” — a shift away from its current “stark, functional aesthetic” — and plans to gradually introduce it across its footprint.

And more stores are on the way: the chain said that franchisees have committed to opening more than 200 new locations in the coming years. It’s also planning to expand further into food with flatbreads, building off its existing options of smoothie bowls, yogurt bowls and loaded toasts.

Smoothie King and its franchisees will open about 90 new locations this year, according to Felder.

As average national gas prices hit $4 a gallon, consumers are showing signs that they are growing more budget conscious. A number of restaurant companies, from Domino’s Pizza to Chipotle, have reported that sales softened in March, after the U.S.-Israeli war with Iran began.

There is also more competition than ever in the restaurant space for health-conscious diners and protein-rich snacks and meals.

Still, Felder is optimistic that consumers would still buy a FiberMaxxing Smoothie or Power Meal Spinach Pineapple Smoothie, rather than skipping the drink or making it at home.

“We believe — and I’ve seen this — that when customers are stretched, they are more likely to spend on things that make them feel good, rather than things that make them feel guilty.”

Pickleball Inc., the new parent company of Major League Pickleball and the PPA Tour, said Friday it has raised a record $225 million in new investment, as the paddle sport continues its rapid growth trajectory.

The latest investment comes from Apollo Global Management’s newly created sports fund, Apollo Sports Capital, and Dundon Capital Partners, owned by billionaire Tom Dundon. Dundon is an owner of the Portland Trail Blazers NBA team and the Carolina Hurricanes NHL team and was an early investor in pickleball.

The fresh funds bring the total investment in Pickleball Inc. to $315 million, as investors continue to look at emerging sports as a place to park their money. The raise values Pickleball Inc. at $750 million, according to a person familiar with the matter, who asked to remain unnamed because they were not authorized to speak publicly about the company’s valuation.

The deal also includes rolling up several pickleball assets under the Pickleball Inc. umbrella, creating what the company called the largest pickleball ecosystem to date.

Pickleball Inc. will take on a portfolio of pickleball assets previously owned by Dundon, including Pickleball Central, a leading site for pickleball equipment founded in 2006. The portfolio also includes PickleballTournaments.com, software that powers thousands of tournaments across all levels of play, as well as Just Courts, a pickleball court installer.

Pickleball Inc.’s newly merged business verticals combined generated over $140 million in 2025 revenue, the company said.

In a release, MLP and PPA Tour CEO Connor Pardoe called the new investment a “seismic day” for pickleball’s rapidly growing business at all levels.

“This investment allows us to fully integrate the sport into one cohesive ecosystem – uniting professional pickleball, consumer goods, technology, and media under a single, unified platform,” Pardoe said.

Dundon and the Pardoe family will remain majority shareholders in the business after the investment.

Pickleball has exploded in popularity in recent years, with more than 24 million U.S. players participating in 2025, making it the fastest growing sport in the country over the last three years, according to the Sports & Fitness Industry Association’s Annual Report.

At the professional level, the MLP and PPA Tour have seen major growth with a combined $30 million in sponsorship revenue in 2025 and $60 million in combined top line revenue for 2025, according to the United Pickleball Association, which operates both leagues. The MLP and PPA Tour are projecting $74 million in combined revenue in 2026.

The new capital for Pickleball Inc. will be used to further integrate the pickleball business at all levels of play and create a streamlined pickleball ecosystem, the company said.

“This capital raise will allow us to expand our focus into new and scalable opportunities like content, media, and the development of infrastructure to support our fast growing events,” MLP Commissioner Samin Odhwani said in a statement. “The continued and dynamic year-over-year growth data has proven without doubt that pickleball is no longer an emerging sport, and is instead quickly becoming the next tier one sport in America.”