Dunkin’ franchisee receives $21.5M credit facility
TBG Food Acquisition Corp., a Dunkin’ Donuts franchisee, received a $21.5 million credit facility from GE Capital, Franchise Finance.
The facility, which includes an $18.5 million term loan and a $3 million revolving loan, is expected to help drive the company’s expansion.
One of Dunkin’ Brands leading franchisees, TBG operates about 50 Dunkin’ Donuts locations in Westchester County, N.Y., Greenville, S.C., and Columbia, S.C. TBG also has development agreements to open 25 outlets in its designated markets.
The Tuckahoe, N.Y.-based restaurant operator is a portfolio company of private equity firm, The Beekman Group.
“GE Capital was the best choice for this transaction based on their knowledge of our business, and their ability to recapitalize the company and provide a liquidity facility for ongoing growth,” said Andrew Marolda, managing director of The Beekman Group.
Last month, TBG named Ana Samin chief financial officer. Samin, who has spent 25 years in senior financial posts at public and private companies, most recently served as chief financial officer at Vertex Capital, an operationally focused private equity fund.
“Ana has a long track-record of success in building the infrastructure required to support rapid growth,” Peter Marrinan, TBG’s chief executive, said in a statement.
Samin said, “I look forward to providing [TBG] with additional resources to support the growth of the store base.”
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