SCOTTSDALE, Ariz.--(BUSINESS WIRE)--GE Capital’s Franchise Finance business announced today that it has loaned $11 million to Vitaligent, LLC for the acquisition of 77 Jamba Juice units, making it the largest franchisee in the system.
Vitaligent is a new company formed by David Peacock, former president of Anheuser-Busch, and Dean VandeKamp, a general partner at Cultivation Capital in St. Louis, MO. Peacock will serve as chair and VandeKamp will serve as CEO. Other Vitaligent lead investors include Terry Matlack, managing director and co-founder of Leawood, KS-based Tortoise Capital Advisors, and Paul Edgerley, managing director of Bain Capital Private Equity in Boston.
Vitaligent has purchased 73 corporate-owned locations in San Jose and Sacramento, CA, as well as four units in the St. Louis, MO-area owned by Peacock under the name ShowMe Smoothie LLC.
In total, there are 807 Jamba units in the U.S.; 601 are franchised and 206 are operated by Jamba, Inc. of Emeryville, CA.
“GE Capital took the time to really understand all aspects of the acquisition,” said VandeKamp. “We appreciate their professionalism and their restaurant industry expertise.”
“Vitaligent has a seasoned management team with a deep bench of talent in terms of finance and marketing,” said Zac Thayer, vice president of new relationship development with GE Capital, Franchise Finance. “This transaction demonstrates our continued commitment to the restaurant space. We want to do our part to help great operators and brands grow.”
About GE Capital, Franchise Finance
With more than 30 years of experience and $6 billion in assets, GE Capital, Franchise Finance is a leading lender for the U.S. franchise finance market. It specializes in financing mid-market, multi-unit operators in the restaurant and hospitality industries. Its team of industry experts helps operators realize their individualized growth plans. Customers also receive access to GE Capital, Franchise Finance’s proprietary industry research and cutting-edge digital tools. For more information, visit www.gefranchisefinance.com.
GE Capital offers customers around the globe an array of financial products, services and insights to help them grow their businesses.
GE (NYSE:GE) imagines things others don’t, builds things others can’t and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world. www.ge.com