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Victory Park Capital secures USD51m credit facility from GE Capital

Victory Park Capital (VPC) has secured a USD51 million credit facility from GE Capital, Franchise Finance and Citizen’s Bank to refinance existing VPC debt and fund long-term growth initiatives of Giordano’s pizza restaurant chain based in Chicago. 

The credit facility will contribute to corporate and franchise expansion in key markets outside of Chicago and help fund the development of business enhancements impacting Giordano’s growth strategy.
“We were impressed with GE Capital’s proven reputation as one of the largest lenders in the restaurant finance sector and are confident they will offer strategic value to the overall growth strategy for Giordano’s,” says Chad Peterson, principal at VPC. “The latest credit facility will provide Giordano’s with significant flexibility to continue to execute on its development plan.”
The Company’s long-term development plan includes the opening of new Giordano’s restaurants in a number of new markets outside of the current operating footprint. The recapitalisation will provide the business with incremental growth capital to support the capital expenditures for expansion.
“The new capital represents the next step in the continued development of our business,” says Giordano’s CEO Yorgo Koutsogiorgas. “We look forward to working with a team as experienced in the franchise sector as GE Capital and believe Giordano’s is well positioned for future growth.”

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