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
View source version on businesswire.com: http://www.businesswire.com/news/home/20150805005087/en/
Copyright Business Wire 2015