GE Capital, Franchise Finance recently provided Blue Ribbon BBQ, LLC, a Famous Dave’s of America franchisee, $9 million for refinancing of existing debt and a partner buyout. Funding was provided through GE Capital’s bank affiliate, GE Capital Financial Inc.
“GE Capital was able to execute and close within our timeframe on this important strategic event for our company, exceeding our expectations,” explains Elliott Baum CEO & President, Blue Ribbon BBQ, LLC. “This was our first time doing business with GE Capital and we could not be more pleased with the outcome.”
Based in Walled Lake, Michigan, Blue Ribbon BBQ currently operates 6 Famous Dave’s units in the metro Detroit area and Cleveland Ohio. Founded in 2002, Blue Ribbon BBQ was the first Famous Dave’s licensee in the state of Michigan and is now one of the most successful franchisees of the Famous Dave’s franchise system.
“Helping Blue Ribbon BBQ with their partner buyout and refinancing in a tight timeframe made good use of our deep, franchise domain expertise, and our knowledge of the Famous Dave’s system,” says Allan Hauptli, vice president, GE Capital, Franchise Finance. “We look forward to working with Blue Ribbon and the Famous Dave’s brand.”
Famous Dave’s of America, Inc. owns, operates and franchises barbeque restaurants. The company owns 53 locations and franchises 131 additional units in 37 states. Famous Dave’s has been recognized with more than 500 awards.