PRZOOM - /newswire/ -
Scottsdale, AZ, United States, 2011/04/26 - Funds acquisition of 14 Church’s units and fee properties, Little Caesars store development. NYSE: GE
GE Capital, Franchise Finance provided a $7.5 million credit facility to MSK Enterprises, LLC, a Church’s Chicken and Little Caesar’s franchisee. The facility includes a $6.5 million term loan used for the acquisition of 14 Church’s Chicken units and five fee properties, and a $1 million development line of credit to help finance the building of three Little Caesars Pizza units. Funding was provided through GE Capital’s bank affiliate, GE Capital Financial Inc.
“We appreciate that GE Capital was able to provide a multi-purpose facility for both the acquisition and to help meet our growth financing needs,” said Michael Knobelock, owner, MSK Enterprises, LLC.
MSK Enterprises is based in Houston and currently operates 16 Church’s Chicken units and 12 Little Caesars units throughout Texas and Arkansas. The financing helped fund the acquisition of an additional 14 Church’s Chicken stores to their portfolio located throughout Alabama and Florida as well as funding three Little Caesars store developments.
“We’ve worked with MSK Enterprises before but this was our first transaction together, and we look forward to working with them again,” said Marques Bayne, vice president, GE Capital, Franchise Finance. “It’s always wonderful to build a relationship with someone looking to aggressively grow.”
Church's Chicken is a chain of fast food restaurants specializing in fried chicken. There are more than 1,650 Church’s Chicken restaurants in 22 countries.
Little Caesars Pizza is the fourth largest pizza chain in the United States and is also one of the fastest growing pizza chains in the world.
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 $12 billion in served assets, we serve over 5,000 customers and over 22,000 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 growth plans with access to our proprietary industry research and customized tools. More information is available at gefranchisefinance.com or by calling 866-GET-GEFF (438-4333).
Molli Megasko - Arment Dietrich, Inc.
P: (312) 787-7249 / E: mmegasko[.]armentdietrich.com.