GE Capital Provides $30MM to Popeyes Franchisee
GE Capital, Franchise Finance provided a $30 million credit facility to Shelton Restaurant Group, a Popeyes Louisiana Kitchen franchisee. The financing is being used to acquire 29 Popeyes units in the Lafayette, LA area. The funding was provided through GE Capital’s bank affiliate, GE Capital Financial.
“We chose to work with GE Capital because of their industry knowledge and ability to execute on large transactions,” explained Mike Shelton, president, Shelton Restaurant Group. “We are excited about this acquisition and GE Capital helped make it possible.”
Based in Alexandria, LA, Shelton Restaurant Group, with this acquisition will own and operate 30 Popeyes restaurants throughout Louisiana and Texas.
“Being specialists in this industry enabled us to establish a great working relationship with Mike Shelton, resulting in a smooth transaction process,” said Joseph Philip, vice president, GE Capital, Franchise Finance.