GE Capital puts funding on the menu

GE Capital Franchise Finance has provided an $11 million term loan and $2 million development credit line to restaurant operator RJC to support its recent acquisition of 26 Denny’s restaurants across the Southeastern US.

The transaction was originated by Todd Cortell, managing director of strategic accounts at GE Capital, Franchise Finance, who said the lender was committed to helping RJC with expansion plans.

“When the opportunity to acquire these units came up, it was a natural decision to reach out to GE Capital,” said RJC operating partner Pravesh Chopra. “I was confident they could help us close this transaction.”

Separately, a consortium made up of private equity giant KKR, alternative investment manager Varde Partners and Deutsche Bank has agreed to buy GE Capital’s Australian and New Zealand consumer lending arm for A$8.2 billion. The business has over three million customers.

“GE Capital is one of the most respected providers of consumer finance in Australasia,” said Ed Bostock, director of KKR Australia. “It is led by a strong management team with an outstanding track record of partnering with the leading retailers.”