News

Jack in the Box franchisee acquires 51 new units

January 16, 2012

GE Capital, Franchise Finance provided $18 million to Feast Foods LLC, a Jack in the Box franchisee based out of Marietta, Calif.

The financing includes a $16.3 million term loan for the acquisition of 51 Jack in the Box units in Washington, Idaho and Oregon, and a $1.7 million development line of credit.

Funding was provided through GE Capital's bank affiliate, GE Capital Financial Inc.

"We were delighted at GE Capital's ability to structure and execute our needs in one month," said David Beshay, partner, Feast Foods LLC. "We appreciated their sense of urgency and responsiveness, and look forward to working with them as we continue to grow."

Feast Foods LLC is a newly formed entity. Prior to this funding, the company owned and operated more than 100 Jack in the Box units in California, Texas and Oklahoma and, through this transaction, added 51 additional stores to its portfolio.

Based in San Diego, Jack in the Box Inc., includes more than 2,200 restaurants in 19 states.

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