Daily News: November 17, 2014

GE Capital Leads $37.5MM Specialty’s Café Facility

GE Capital’s Franchise Finance business led a $37.5 million senior credit facility for Specialty’s Café & Bakery to refinance existing debt and provide funds for additional growth.

“GE Capital is an ideal lender as they understand the value we provide to customers and the commitment to quality that our brand embodies,” said Randall Niemeyer, CFO of Specialty’s. “GE Capital was able to structure a deal that met our needs for flexibility and future growth.”

“This facility allows Specialty’s to consolidate existing loans, thereby improving cash flow and increasing its capacity for growth,” said Bill Kraus, a managing director with GE Capital, Franchise Finance. “We look forward to continuing to work closely with Specialty’s as they enter their next stage of development.”

Specialty’s Café & Bakery operates 50 restaurants in California, Washington and Illinois that feature bakery favorites, sandwiches, salads, cookies and more.