Funds acquisition of 21 Jack in the Box units, refinances existing restaurants
SCOTTSDALE, Ariz. (RestaurantNewsRelease.com) GE Capital, Franchise Finance is providing $23.5 million in financing to MarLu, a multi-concept franchisee group and management company based in Sacramento, California. The facility will refinance existing stores, fund the acquisition of 21 Jack in the Box units in Sacramento, Modesto and Los Banos, California, and create a line of credit for future development needs. Financing was provided through GE Capital, Franchise Finance’s bank affiliate, GE Capital Financial Inc.
“This is our first financing with MarLu,” says Chris Poppe, vice president of GE Capital. “We hope to expand our relationship with them as they grow and broaden the restaurant concepts they manage.”
While the recent acquisition with Jack in the Box corporate brings them 21 new stores for their portfolio, MarLu is also the third largest Church’s Chicken domestic franchisee, with 46 restaurants. MarLu also owns and operates two Arby’s and two Little Caesars Pizza’s restaurants with two more opening in the third quarter.
“We chose GE Capital because they have the ability to provide additional funding for future transactions, and, as our portfolio indicates, we intend to remain very active seeking opportunities in the states where we currently do business,” explains Tony Lutfi, CEO and president, MarLu Investment Group. “They made the process easy and gave us the confidence to continue to build our relationship as we expand.”
MarLu operates units in California, Arizona, Nevada, and Texas, and has a focus on providing great customer experience while empowering local management to operate efficiently, grow sales and improve profitability.
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 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.