GE Capital Provides Facility to Expand P.F. Chang’s in Canada
GE Capital’s Canadian Franchise Finance business announced it has established a development credit facility for Interaction Asian Restaurants. The company will use it to expand the P.F. Chang’s China Bistro concept in Canada.
Headquartered in Montreal, the Interaction Restaurants Group is a restaurant management and holding company that has been operating and expanding various restaurant and food service concepts in Canada for about 20 years. Interaction has recently opened the first Canadian P.F. Chang’s China Bistro at the Shops at Don Mills, in Toronto, ON, and will open two more this year in Quebec.
“We’ve been impressed by GE Capital’s commitment to the restaurant industry and its deep understanding of what the development of a franchise concept in new markets involves,” said Michael Aronovici, president of Interaction Restaurants Group. “GE Capital provided us with a solid financial foundation and a team of experts that will help us grow the P.F. Chang’s concept across Canada.”
“We have had a long relationship with Michael and Interaction, and we are proud to be involved in the introduction and development of the P.F. Chang’s concept in Canada,” said Edward Khediguian, senior vice president of GE Capital’s Franchise Finance business in Canada. “The P.F. Chang’s concept has been a hit with customers in the United States for more than 15 years, and has proven to be successful with Canadians in the Toronto market. The expansion of the concept in Canada has been highly anticipated by both the public and the industry.”