GE Capital Provides $100 Million Credit Facility to Help Franchisees Carry Out Wendy's® Rebranding
GE Capital Provides $100 Million Credit Facility to Help Franchisees Carry Out Wendy's® Rebranding
SCOTTSDALE, Ariz.--(BUSINESS WIRE)-- As Wendy's® restaurants undergo a total brand transformation — which includes "re-imaging" existing restaurants and developing new ones as well as a new marketing, logo and packaging — GE Capital's Franchise Finance (GEFF) business has provided a $100 million credit facility to finance qualified franchisees that want to update their restaurants.
Known as "Image Activation," the rebranding process will result in an ultra-modern restaurant design that includes lounge seating, flat-screen televisions and wireless Internet service. Wendy's franchisees have already applied to re-image nearly 150 restaurants; the company believes 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."
About The Wendy's Co.
The Wendy's Co. is the world's third-largest quick-service hamburger company. The Wendy's system includes more than 6,500 franchise and company restaurants in the U.S. and 26 countries and U.S. territories worldwide. For more information, visit www.aboutwendys.com or www.wendys.com.
About GE Capital, Franchise Finance
GE Capital, Franchise Finance is a leading lender for the U.S. franchise finance market via direct sales and portfolio acquisitions. With more than 30 years of experience and over $7 billion in served assets, it provides financing to more than 2,000 customers and 14,000 properties. The business specializes in financing mid-market operators with multiple stores in the restaurant and hospitality industries. Its team of industry experts works with entrepreneurial customers to help them develop individualized growth plans. GE Capital, Franchise Finance customers also receive access to its proprietary industry research and cutting-edge digital tools. For more information, visit http://www.gefranchisefinance.com or follow company news via Twitter (https://twitter.com/GELendLease).
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (https://twitter.com/GECapital).
GE (NYS: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
GE Capital, Americas
Lisa Tibbitts, 203-956-4582
lisa.tibbitts@ge.com
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The article GE Capital Provides $100 Million Credit Facility to Help Franchisees Carry Out Wendy's® Rebranding originally appeared on Fool.com.
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