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GE Capital Lends $45MM to Largest McAlister’s Deli Franchisee

February 20, 2015, 07:05 AM
Filed Under: Franchise Finance

GE Capital's Franchise Finance business announced that it served as administrative agent on a $45 million senior secured credit facility to The Saxton Group, the largest McAlister's Deli® franchisee. GE Capital Markets served as sole lead arranger and sole bookrunner.

The Dallas-based company, which was founded in 1982, has grown its McAlister's business from one store in 1999 to 61 locations today spread across Texas, Oklahoma, Kansas and Missouri. The company used the funds to refinance existing debt, redeem outstanding privately-held shares and buy out minority shareholders; the remaining capital will be used for growth.

McAlister's is a fast casual restaurant chain known for providing a genuine hospitality guest experience and a menu of American regional favorites featuring sandwiches, spuds, soups, salads, desserts and McAlister's Famous Sweet Tea™. In total, the McAlister's system, which is approximately 85% franchised, is comprised of 338 restaurants in 24 states.

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