Covington-based Smoothie King Franchises Inc. is being sold to a South Korean company.
Smoothie King currently has more than 600 units operating in 32 states, the Caymans and the Republic of Korea.
The purchase price was not disclosed in a news release on Monday.
Buyer SK USA Inc. is headed by Chief Executive Officer Wan Kim, a Boston University graduate who opened his first Smoothie King in 2003. Since then Wan's Smoothies Korea has opened more than 100 locations.
Wan said SK USA plans to open more than 1,000 new locations in the United States and worldwide by the end of 2017.