Funds refinancing
SCOTTSDALE, Ariz.--28 June 2012-- GE Capital, Franchise Finance recently provided a $6.7 million credit facility to Pizzerias, LLC, a Papa John's franchisee. The funding is being used to refinance existing debt. A portion of the funding was provided through GE Capital's bank affiliate, GE Capital Bank.
"GE Capital presented the idea of a recapitalization and we were very pleased with the overall deal structure and with the quick closing process," explained Ricky Warman, president, Pizzerias, LLC.
Pizzerias operates 31 Papa John's locations in the Miami market.
"We specialize in helping strong operators like Pizzerias, LLC with creative financing solutions," said Mike Mitchell, vice president, GE Capital, Franchise Finance. "By coupling our existing relationship with the company along with our knowledge of the Papa John's brand, we were able to offer Pizzerias, LLC a recapitalization that worked for all parties."
Papa John's International, Inc. is the third largest pizza company in the world, based on system-wide sales, with more than 3,400 restaurants worldwide. In 2009, they were named one of the Fastest-Growing Franchises by Entrepreneur Magazine.
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