GE Capital Provides Facility to Original Joe’s
GE Capital’s Canadian Franchise Finance business announced today that it has provided Original Joe’s Franchise Group (OJ’s) with a C$15.3 million senior secured credit facility. OJ’s will use it to continue its expansion of the Original Joe’s and State & Main restaurant concepts. GE Capital, Canada served as lead arranger on a senior credit facility with BMO Bank of Montreal and Laurentian Bank as participants.
Headquartered in Calgary, Alberta, OJ’s is a full-service casual restaurant and bar with 55 locations, which are a mix of corporate-owned, joint venture and franchised units.
“Throughout our association with GE Capital, we’ve been impressed by their understanding of and commitment to the restaurant industry and especially to our own business,” said Derek Doke, president and CEO of OJ’s. “With this credit facility, GE Capital provides us with a solid financial foundation that allows us to concentrate our energies on expanding into new markets.”
“We’ve been financing OJ’s expansion projects for four years,” said Edward Khediguian, senior vice president of GE Capital’s Franchise Finance business in Canada. “We’re pleased to continue to work with this leader in the Canadian restaurant industry.”