GE Capital Provides $37.5 Million Credit Facility to Specialty’s Caf’e & Bakery
GE Capital’s Franchise Finance business announced today that it has led a $37.5 million senior credit facility for Specialty’s Caf’e & Bakery Inc. to refinance existing debt and provide funds for additional growth.
Since 1987, Specialty’s Caf’e & Bakery has combined a unique selection of fresh-baked goods with premium ingredients and the convenience of technology. Specialty’s operates 50 restaurants in California, Washington and Illinois that feature bakery favorites, sandwiches, salads, cookies and more. Customers can order in-store using self-serve kiosks or online at Specialtys.com for business catering delivery or personal pick-up in 15 minutes or less. Specialty’s serves as a destination for local customers – as well as a corporate caterer for companies from start-ups to the Fortune 500.
“GE Capital is an ideal lender as they understand the value we provide to customers and the commitment to quality that our brand embodies,” said Randall Niemeyer, chief financial officer of Specialty’s. “GE Capital was able to structure a deal that met our needs for flexibility and future growth.”
“This facility allows Specialty’s to consolidate existing loans, thereby improving cash flow and increasing its capacity for growth,” said Bill Kraus, a managing director with GE Capital, Franchise Finance. “We look forward to continuing to work closely with Specialty’s as they enter their next stage of development.”
About GE Capital, Franchise Finance
GE Capital, Franchise Finance is a leading lender for the U.S. franchise finance market via direct sales and portfolio acquisitions. With more than 30 years of experience and over $6 billion in served assets, it provides financing to more than 2,000 customers and 14,000 properties. The business specializes in financing mid-market operators with multiple stores in the restaurant and hospitality industries. Its team of industry experts helps them realize their individualized growth plans. GE Capital, Franchise Finance customers also receive access to its proprietary industry research and cutting-edge digital tools. For more information, visit http://www.gefranchisefinance.com or follow company news via Twitter (https://twitter.com/GELendLease).
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 (https://twitter.com/GECapital).
GE (NYSE:GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company’s website at www.ge.com.
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