Bridgeman Foods Triples Chili's Franchise Size with $19 Million in Financing

Tripling its size within the Chili's franchise system, Bridgeman Foods is using $19 million from GE Capital Solutions, Franchise Finance to fund the acquisition of 15 restaurants in Wisconsin and Missouri.

'Our strong business relationship with Bridgeman made this deal an attractive opportunity,' says Bill Pabst, vice president, GE Capital Solutions, Franchise Finance. 'We've worked with Bridgeman for nearly a decade, so we've become quite familiar with the company. That made it easier to construct a deal that met their needs. We quickly orchestrated funding and were able to please all parties.'

Louisville, Ky.-based Bridgeman Foods has a decade-long relationship with GE Capital Solutions, Franchise Finance, and is using the $19 million loan to acquire 10 Chili's locations in Milwaukee and Madison, Wis. and five in the St. Louis area.

'To complete a transaction such as this in a tight timeframe speaks to why we have worked with GE Capital Solutions, Franchise Finance for many years,' says former NBA star, Junior Bridgeman, president and CEO, Bridgeman Foods. 'They used their intimate knowledge of the restaurant business to offer us a flexible package and proved their ability to be more than just a lender.'

Bridgeman Foods works extensively as a Wendy's franchisee and saw an opportunity to branch out to include in its portfolio Chili's operations. One of the largest Wendy's franchisees in the United States, Bridgeman Foods owns more than 160 locations.

'GE Capital Solutions, Franchise Finance has been a reliable lender for many years. They know what they're talking about and their expertise was key to preparing this deal,' says Bridgeman, whose Milwaukee Bucks jersey was retired in 1988. 'They considered our needs and used those to develop a customized solution.'

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