Funds acquisition
SCOTTSDALE, Ariz.--23 March 2012-- GE Capital, Franchise Finance provided a $30 million credit facility to Shelton Restaurant Group, LLC, a Popeyes® Louisiana Kitchen franchisee. The financing is being used to acquire 29 Popeyes units in the Lafayette, Louisiana area. The funding was provided through GE Capital's bank affiliate, GE Capital Financial Inc.
"We chose to work with GE Capital because of their industry knowledge and ability to execute on large transactions," explained Mike Shelton, president, Shelton Restaurant Group, LLC. "We are excited about this acquisition and GE Capital helped make it possible."
Based in Alexandria, Louisiana, Shelton Restaurant Group, with this acquisition will own and operate 30 Popeyes restaurants throughout Louisiana and Texas.
"Being specialists in this industry enabled us to establish a great working relationship with Mike Shelton, resulting in a smooth transaction process," said Joseph Philip, vice president, GE Capital, Franchise Finance.
Founded in New Orleans, Louisiana in 1972, Popeyes® Louisiana Kitchen is the world's second largest quick-service chicken restaurant, based on the number of units with approximately 2,000 locations around the world. In 2011 Popeyes was named number 20 on the QSR 50 and in 2010 it was named number 57 on the Franchise Times Top 200 Franchise Chains by Worldwide Sales.
About GE Capital, Franchise Finance
GE Capital, Franchise Finance is a leading lender for the franchise finance market via direct sales and portfolio acquisition. With more than 30 years of experience and $10 billion in served assets, we serve over 3,000 customers and over 18,000 property locations. We specialize in financing mid-market operators with multiple stores in the restaurant and hospitality industries. Our team of industry experts will work with you to help develop your own growth plan with access to our proprietary industry research and customized tools. More information is available at www.gefranchisefinance.com.
Christine Roe
GE Capital Solutions
[email protected]
1-480-563-6260
Yvette Pistorio
Arment Dietrich Inc.
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(312)-787-7249