Specialty’s: GE Capital Provides Credit Facility

Scottsdale / AZ. (gec) GE Capital´s Franchise Finance business announced that it has led a 37.5 million USD senior credit facility for Specialty´s Café + Bakery Inc. to refinance existing debt and provide funds for additional growth. Since 1987, Specialty´s Café + Bakery has combined a unique selection of fresh-baked goods with premium ingredients and the convenience of technology. Specialty´s operates 50 restaurants in California, Washington and Illinois that feature bakery favourites, sandwiches, salads, cookies and more. Customers can order in-store using self-serve kiosks or online at specialtys.com for business catering delivery or personal pick-up in 15 minutes or less. Specialty´s serves as a destination for local customers – as well as a corporate caterer for companies from start-ups to the Fortune 500. «GE Capital is an ideal lender as they understand the value we provide to customers and the commitment to quality that our brand embodies», said Randall Niemeyer, chief financial officer of Specialty´s. «GE Capital was able to structure a deal that met our needs for flexibility and future growth». Bill Kraus, managing director with GE Capital, Franchise Finance: «This facility allows Specialty´s to consolidate existing loans, thereby improving cash flow and increasing its capacity for growth. We look forward to continuing to work closely with Specialty´s as they enter their next stage of development».