GE Capital Lends $11 Million to Vitaligent for Purchase of 77 Jamba Juice Units
August 05 2015 - 8:00AM
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
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version on businesswire.com: http://www.businesswire.com/news/home/20150805005087/en/
GE Capital, AmericasLisa Tibbitts,
203-956-4582lisa.tibbitts@ge.com
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