Funds acquisition of four BURGER KING units and debt refinancing
SCOTTSDALE, Ariz.--12 October 2010-- GE Capital, Franchise Finance provided $9.3 million in financing to Georgia Texas Operating Company, a BURGER KING® and Taco Bell franchisee. The funds were used to acquire four BURGER KING fast food restaurants in the greater Atlanta area as well as to refinance existing debt. Funding was provided through GE Capital, Franchise Finance's bank affiliate, GE Capital Financial Inc.
"This is our fourth transaction over the past 10 years with Georgia Texas Operating Company, and we look forward to assisting them with their future growth plans," said Mike Record, Vice President of GE Capital, Franchise Finance.
Georgia Texas Operating Company, based in Newnan, Georgia, currently owns and operates six Taco Bell units, also in the Atlanta market.
"Our relationship with GE Capital continues to grow with each new transaction," says Doug Augustine, CEO of Georgia Texas Operating Company. "We appreciate GE Capital's experience and expertise as we increase the size of our company. The strong relationship and trust we have with them makes choosing GE an easy decision for us."
BURGER KING operates more than 12,000 restaurants worldwide. Approximately 90 percent of BURGER KING restaurants are owned and operated by independent franchisees. In 2008, Fortune Magazine ranked Burger King Corp. among America's 1,000 largest corporations.
Taco Bell Corp. was founded in 1962 and began franchising in 1964. Taco Bell is now the world's leading Mexican-style quick service restaurant chain with approximately 5,600 restaurants in the U.S. serving more than 35 million consumers each week.
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 $14 billion in served assets, we serve more than 5,000 customers and more than 22,000 property locations. We provide financing for all your business needs. More information is available at www.gefranchisefinance.com or by calling 866-GET-GEFF (438-4333).
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (@GECapital). GE (NYSE: GE) is a diversified infrastructure, finance and media company that is taking on the world's toughest challenges. GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit www.ge.com.
Christine Roe
GE Capital Solutions
[email protected]
1-480-563-6260
Yvette Pistorio
Arment Dietrich Inc.
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(312)-787-7249