Capital One Provides $15MM Facility to Villa Enterprises
Villa Enterprises Management (and its affiliates) announced that it closed a seven-year, $15 million credit facility with Capital One Bank. Villa and affiliated companies own, operate and franchise 329 Quick Service Restaurants (QSRs), fast casual and full service restaurants in 38 states and seven countries.
Ben Scotto, president, said that the primary purpose of the credit facility is to fund acquisitions. Named to the Inc. 5000 this year, Villa acquired The Office chain out of bankruptcy in 2011 and acquired Everything Yogurt Brands in 2003.
“The combination of the credit line and the company’s cash reserves will create a substantial acquisition fund that will position us to deliver on our growth plan by supplementing Villa’s internal growth and franchising with strategic acquisitions,” said Scotto.
“We are pleased to partner with Villa Enterprises, a leader in the restaurant industry that has demonstrated great prospects for strategic growth,” said Anthony Pirretti Jr., senior vice president, Middle Market, Capital One Bank. “We look forward to working with the management team at Villa Enterprises as the company evolves and assesses acquisition opportunities.”