Hardee's franchisee to acquire Atlanta locations

Hardee's franchisee to acquire Atlanta locations
Tags: Burger/Steak/BBQ, Food & Beverage, Franchising & Growth, Operations Management
July 12, 2007

DENVER —Hardee's and Carl's Jr. franchisee Biscuits and Burgers LLC has secured $8.5 million in funding from Scottsdale, Ariz.-based GE Capital Solutions, Franchise Finance for the acquisition of 19 Hardee's locations in the Atlanta area, as well as a $2 million development line of credit.

To accelerate the financing process, GE Capital Solutions employed a tactic called deal-teaming where underwriting and closing occur simultaneously. The deal was completed in about 45 days.

Biscuits and Burgers is a new entity formed to acquire the Atlanta Hardee's locations. Its owners, Steve Rosenfield and Dewey Brown, own Hardee's stores in Montana and Wyoming.