GE Capital, Franchise Finance provided a $100 million credit facility to Five Guys Holdings, Inc. franchisor of Five Guys Burgers and Fries. The facility includes a $55 million term loan and a $45 million revolver, and will be used to finance expected growth. Funding was provided through GE Capital’s bank affiliate, GE Capital Financial Inc.
“GE Capital’s ability to grow with us, from a $14 million credit facility in 2008 to a $100 million credit facility in 2011, has been a critical part of our success,” said Peter Hanson, CFO, Five Guys Holdings, Inc. “In completing the refinancing of our existing credit facility and providing us with $55 million in new capital, GE has put us in a great position to deliver on our ongoing development plans.”
“Five Guys is a remarkable growth story,” said Scott Tocci, senior vice president, GE Capital, Franchise Finance. “We are proud to be a part of that story, leading four financing rounds for them since 2008.”
Five Guys Burgers and Fries, a fast casual hamburger chain, opened their first restaurant in 1986 in Arlington, Virginia. Over the last three years, Five Guys has opened more than 375 restaurants, and today has more than 640 franchised locations and more than 100 corporate-owned locations across the U.S. and Canada.
