SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Tripling its size within the Chili's franchise system, Bridgeman Foods is using $19 million from GE Capital Solutions, Franchise Finance to fund the acquisition of 15 restaurants in Wisconsin and Missouri.
"Our strong business relationship with Bridgeman made this deal an attractive opportunity," says Bill Pabst, vice president, GE Capital Solutions, Franchise Finance. "We've worked with Bridgeman for nearly a decade, so we've become quite familiar with the company. That made it easier to construct a deal that met their needs. We quickly orchestrated funding and were able to please all parties."
Louisville, Ky.-based Bridgeman Foods has a decade-long relationship with GE Capital Solutions, Franchise Finance, and is using the $19 million loan to acquire 10 Chili's locations in Milwaukee and Madison, Wis. and five in the St. Louis area.
"To complete a transaction such as this in a tight timeframe speaks to why we have worked with GE Capital Solutions, Franchise Finance for many years," says former NBA star, Junior Bridgeman, president and CEO, Bridgeman Foods. "They used their intimate knowledge of the restaurant business to offer us a flexible package and proved their ability to be more than just a lender."
Bridgeman Foods works extensively as a Wendy's franchisee and saw an opportunity to branch out to include in its portfolio Chili's operations. One of the largest Wendy's franchisees in the United States, Bridgeman Foods owns more than 160 locations.
"GE Capital Solutions, Franchise Finance has been a reliable lender for many years. They know what they're talking about and their expertise was key to preparing this deal," says Bridgeman, whose Milwaukee Bucks jersey was retired in 1988. "They considered our needs and used those to develop a customized solution."
GE Capital Solutions, Franchise Finance provides a vast array of finance services, including funding for refinancing, reimaging, acquisitions, and new construction. Allowing its customers to receive flexible solutions, GE Capital Solutions, Franchise Finance gives its customers the tools to grow, compete, and prosper.
About GE Capital Solutions, Franchise Finance
GE Capital Solutions, Franchise Finance is a leading lender for the franchise finance market via direct sales and portfolio acquisition. With more than 20 years of experience and $11 billion in served assets, we serve more than 6,000 customers and more than 20,000 property locations, primarily in the restaurant, hospitality, branded beverage, power sports, and automotive after-market industries. We offer customers access to capital with a menu of products featuring flexible structuring, including financing for acquisitions, refinancing, construction of new units, and remodels for single- and multi-unit operators/chains. More information is available at www.gefranchisefinance.com or by calling toll-free 866-GET-GEFF (438-4333).
GE Capital Solutions provides leasing, lending, and capital investment products and services to help business customers grow. It has more than $90 billion in assets, serves more than a million clients around the world, and is headquartered in Danbury, Connecticut, USA. For more on GE Capital Solutions, go to www.ge.com/capitalsolutions.
GE (NYSE: GE) is Imagination at Work --- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
Contacts
Arment Dietrich
Gini Dietrich, 312-787-7249
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or
GE Capital Solutions, Franchise Finance
Christine Roe, 480-563-6260
[email protected]
Stephen White