MISSISSAUGA, July 18, 2018 (GLOBE NEWSWIRE) -- CWB Franchise Finance (CWB), a division of CWB Financial Group, has provided a term loan facility to Ricky’s Family Restaurants (Ricky’s Group) for the acquisition of the Famoso Neapolitan Pizzeria chain (Famoso). Established in 2006, Famoso has 30 franchised locations in British Columbia, Alberta, Saskatchewan and Ontario, and is known for using authentic ingredients and processes in their premium-casual pizzeria restaurants. Ricky’s Group is part of the FDF Restaurant Brandz folio, with 175 franchised restaurant locations including Ricky’s All Day Grill, Ricky’s Country, Ricky’s Cafes and Fatburger.
“We’ve partnered with the leadership team at Ricky’s Group for more than 12 years and are pleased to assist with the addition of this complimentary brand to their portfolio,” said Trish Halliwell, a senior manager with CWB’s restaurant division. “When our long-standing partners want to grow, we’re there to work with them on their specific financing needs, and to support transaction analysis and due diligence. With this deal, we’ve also established new financing programs that will benefit Ricky’s and Famoso franchisees.”
Frank Di Benedetto, CEO and owner of FDF Restaurant Brandz, adds: “CWB Franchise Finance has been a key partner, providing guidance and financial support in our efforts to expand over the last 12 years. CWB is a highly skilled group that understands the franchised restaurant sector extremely well.”
About CWB Franchise Finance CWB Franchise Finance, a division of CWB Financial Group, specializes in financing for regional and national restaurants and hotels and is a leading lender to the Canadian restaurant and hospitality industries. Previously GE Capital Canada’s franchise financing arm, CWB Franchise Finance was acquired by CWB Financial Group in 2016 following a successful track record of more than 800 clients with upwards of 1,525 property locations over 14 years. To date, more than $3 billion has been invested in the Canadian hotel and restaurant space. Learn more at www.cwbfranchise.com.
About CWB Financial Group CWB is a diversified financial services organization serving businesses and individuals across Canada. Operating from its headquarters in Edmonton, Alberta, CWB’s key business lines include full-service business and personal banking offered through 42 branches of Canadian Western Bank and Internet banking services provided by Motive Financial. Highly responsive specialized financing is delivered under the banners of CWB Equipment Financing, CWB National Leasing, CWB Maxium Financial, CWB Franchise Finance and CWB Optimum Mortgage. Trust Services are offered through Canadian Western Trust. Comprehensive wealth management offerings are provided through CWB Wealth Management, which includes the businesses of McLean & Partners Wealth Management and Canadian Western Financial. As a public company on the Toronto Stock Exchange (TSX), CWB trades under the symbols “CWB” (common shares), “CWB.PR.B” (Series 5 Preferred Shares) and “CWB.PR.C” (Series 7 Preferred Shares). Learn more at www.cwb.com.
About Ricky’s Group Ricky’s Group of family-style restaurants, operating Ricky’s All Day Grill, Ricky’s Country Restaurants, Fatburger and Famoso Pizzeria, has 175 restaurants across Canada in its franchised restaurant folio. Ricky’s started as a family-style pancake restaurant in 1962 in Vancouver, and is a privately-held company owned by Frank Di Benedetto that has evolved into a multi-brand franchised group based out of Burnaby, B.C.
For more information: Ed Khediguian Vice President, Franchise Finance CWB Franchise Finance Phone: (647) 465-0591 Email: Jerry Inkster Chief Financial Officer Ricky’s Group Phone: (604)-637-7272