GE Capital Provides $100MM Facility to Wendy’s Franchisees
As Wendy’s restaurants undergo a total brand transformation — which includes “re-imaging” existing restaurants and developing new ones as well as a new marketing, logo and packaging — GE Capital’s Franchise Finance (GEFF) business has provided a $100 million credit facility to finance qualified franchisees that want to update their restaurants.
Known as “Image Activation,” the rebranding process will result in an ultra-modern restaurant design that includes lounge seating, flat-screen televisions and wireless Internet service. Wendy’s franchisees have already applied to re-image nearly 150 restaurants; the company believes most of the 100 restaurants that are in the midst of Image Activation will be open or under construction by the end of this year.
“The Image Activation re-imaging program is an essential element of our brand transformation,” said Dan Collins, Wendy’s senior vice president and treasurer. “This contemporary restaurant design reinforces our mission to position Wendy’s as ‘A Cut Above,’ and we are excited to work with GE Capital to help our franchisees participate in this brand evolution.’”
“The opportunity to help an iconic brand reengineer its customer commitment doesn’t come along every day,” said Agustin Carcoba, the leader of GEFF. “We’re thrilled to provide financing for Wendy’s franchisees as they make one of the biggest brand moves the restaurant industry has seen.”