SCOTTSDALE, Ariz.--(BUSINESS WIRE)--An $11 million dollar deal between GE Capital Solutions, Franchise Finance and Zoe’s Kitchen has been completed. The deal marks the first time GE Capital Solutions, Franchise Finance has invested equity in a borrower. The financing consists of a $10 million revolver loan, plus a $1 million equity investment, allowing Zoe’s Kitchen to grow through the development of up to 50 new company-operated restaurants during the next four years.
“Working with Zoe’s Kitchen showcases our flexibility as a lender to work with different sized companies helping them to grow, compete and prosper,” says Bill Kraus, senior vice president, GE Capital Solutions, Franchise Finance. “This equity investment shows our commitment to companies with growth potential and allows us to grow with Zoe’s Kitchen.”
With 20 locations across Alabama, Texas, Tennessee, Arizona, Louisiana, and Florida, Zoe’s Kitchen is a small but profitable company that is poised for rapid growth.
“Many other big lending institutions that we approached were wary because of the relatively small size of the deal,” says Rahul Aggarwal, managing director, Brentwood Associates, the owners of Zoe’s Kitchen. “GE Capital Solutions, Franchise Finance was extremely flexible and provided necessary funding at a crucial time for our company.”
Zoe's Kitchen USA, LLC is a fast-casual restaurant concept founded in 1995 and headquartered in Birmingham, Ala. The concept offers fresh, made-from-scratch gourmet sandwiches, salads, pitas, hot entrees, and roll-ups inspired by Mediterranean cuisine. The Company has 20 restaurants system-wide, including company-owned and franchised stores, in six states.
GE Capital Solutions, Franchise Finance is a leading lender serving customers in the restaurant, hospitality, and branded beverage industries. It provides financing to help franchisees and franchisors grow, compete, and prosper. It offers access to capital through a diverse array of flexible financing options, including funds for purchasing real estate or equipment, new construction or remodels, acquisitions, or refinancing.
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 30 years of experience and $13 billion in served assets, we serve more than 5,000 customers and more than 22,000 property locations, primarily in the restaurant, hospitality, and branded beverage 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 $100 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.
