GE Capital lends $23.5 million to restaurant group
June 2, 2010
by Eric Schroeder
SCOTTSDALE, ARIZ. — GE Capital, Franchise Finance is providing $23.5 million in financing to Sacramento, Calif.-based MarLu, a multi-concept franchise group and management company, to refinance existing stores, create a line of credit for future development needs and fund the acquisition of 21 Jack in the Box restaurants in Sacramento, Modesto and Los Banos, Calif.
In addition to Jack in the Box, MarLu is the third largest Church’s Chicken domestic franchisee, with 46 restaurants, and also owns and operates two Arby’s and two Little Caeser’s Pizza’s restaurants.
“We chose GE Capital because they have the ability to provide additional funding for future transactions, and, as our portfolio indicates, we intend to remain very active seeking opportunities in the states where we currently do business,” said Tony Lufti, president and chief executive officer of MarLu Investment Group. “They made the process easy and gave us the confidence to continue to build our relationship as we expand.”