GE Capital's Franchise Finance business has provided a $100 million credit facility to finance qualified Wendy's franchisees who want to update their restaurant in the brand's new "Image Activation" design.
Wendy's rebranding process includes a contemporary restaurant remodel that features lounge seating, flatscreen televisions and wireless Internet service.
Thus far, Wendy's franchisees have applied to re-image nearly 150 restaurants. Company executives expect most of the 100 restaurants that are in the midst of Image Activation will be open or under construction by the end of this year.
"The Image Activation re-imaging program is an essential element of our brand transformation," said Dan Collins, Wendy's senior vice president and treasurer. "This contemporary restaurant design reinforces our mission to position Wendy's as 'A Cut Above,' and we are excited to work with GE Capital to help our franchisees participate in this brand evolution.'"
"The opportunity to help an iconic brand reengineer its customer commitment doesn't come along every day," said Agustin Carcoba, the leader of GEFF. "We're thrilled to provide financing for Wendy's franchisees as they make one of the biggest brand moves the restaurant industry has seen."
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