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Hardee's franchisee to acquire Atlanta locations
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.
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