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 restaurant industry."
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
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
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.
SOURCE: GE CAPITAL CANADA
For further information:
GE Capital, Canada