GE Capital, Franchise Finance Provides Original Joe's with $15.3 Million
Credit Facility for Expansion Projects
MONTREAL, Feb. 6, 2013 /CNW Telbec/ - GE Capital's Canadian Franchise Finance
business announced today that it has provided Original Joe's Franchise Group
Inc. (OJ's) with a $15.3 million senior secured credit facility. OJ's will use
it to continue its expansion of the Original Joe's and State & Main restaurant
concepts. GE Capital, Canada served as lead arranger on a senior credit
facility with BMO Bank of Montreal and Laurentian Bank as participants.
Headquartered in Calgary, Alberta, OJ's is a full-service casual restaurant
and bar with 55 locations, which are a mix of corporate-owned, joint venture
and franchised units.
"Throughout our association with GE Capital, we've been impressed by their
understanding of and commitment to the restaurant industry and especially to
our own business," said Derek Doke, president and CEO of OJ's. "With this
credit facility, GE Capital provides us with a solid financial foundation that
allows us to concentrate our energies on expanding into new markets."
"We've been financing OJ's expansion projects for four years," said Edward
Khediguian, senior vice president of GE Capital's Franchise Finance business
in Canada. "We're pleased to continue to work with this leader in the Canadian
About Original Joe's Franchise Group Inc.
Original Joe's Franchise Group Inc. (OJ's) is a full-service casual restaurant
and bar that opened the doors of their first location in the community of
Marda Loop in Calgary, Alberta in 1997. Today OJ's is considered one of the
fastest growing casual dining restaurant brands in Canada with 55 locations.
Many of Western Canada's major cities and towns are home to an OJ's,
including: Vernon, Vancouver, Richmond, Calgary, Edmonton, Red Deer, Regina,
Saskatoon and Winnipeg. State & Main is another OJ's restaurant concept. This
casual, comfort food-focused kitchen and bar with a classic big city feel is
expanding in western Canada and Ontario.
About GE Capital, Franchise Finance
GE Capital, Franchise Finance is a leading lender to the franchise finance
market, serving the restaurant and hospitality industries. We specialize in
financing regional and national restaurant businesses of all sizes across the
country. Over the past 10 years, we've financed more than 700 restaurant
customers with upwards of 1,500 property locations, lending more than $1.1
billion to the Canadian restaurant space. In the Canadian hotel market, we
provide financing for nationally known brands in the limited and
select-service segments of the industry.
With more than 20 offices throughout Canada, GE Capital
(http://www.gecapital.ca) offers a wide variety of financial products and
services to address commercial financing and fleet management needs in many
phases of a business' lifecycle. From equipment finance to working capital and
growth financing to large asset-based and restructuring loans, we apply our
wealth of industry expertise to develop custom solutions for your company.
Some of the industries in which we specialize include transportation,
construction, manufacturing, aerospace, automotive, mining, energy, wholesale,
retail, restaurant and hotel franchise financing.
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.
GE Capital, Canada Brigitte Dagnault 514-397-5323 514-346-1207 (mobile)
SOURCE: GE CAPITAL CANADA
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