PRZOOM - /newswire/ -
Scottsdale, AZ, United States, 2010/07/27 - Funding allows for the acquisition of eight BURGER KING units in Medford, Oregon. NYSE: GE
GE Capital, Franchise Finance is providing $8.4 million in financing to Ghai Management Services, Inc., a BURGER KING® franchisee based in Fremont, California. The funds will be used to acquire eight BURGER KING fast food restaurants. Financing was provided through the GE Capital, Franchise Finance bank affiliate, GE Capital Financial Inc.
"Having worked with Ghai Management Services since 2001, our strong relationship greatly facilitated the timely closing of the acquisition financing,” said Allen Johnson, vice president of GE Capital, Franchise Finance.
Including the new units, Ghai Management Services now owns and operates 24 BURGER KING fast food restaurants in Northern California and Southern Oregon.
"We’ve done numerous deals with GE Capital. We trust them, and know the job will get done on time,” says Sunny Ghai, president of Ghai Management Services.
Ghai Management Services is a family operation. Sunny Ghai’s son, Harsh, has been looking for investment opportunities to help grow their portfolio.
“Establishing a strong relationship with GE Capital provides us with a proven source of capital to support our plans to grow the BURGER KING brand in our markets,” says Harsh Ghai, director of operations of Ghai Management Services.
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.
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 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 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 (ge.com) operates in more than 100 countries and employs about 300,000 people worldwide.
Molli Megasko, Arment Dietrich, Inc.
P: (312) 787-7249 / E: mmegasko[.]armentdietrich.com.