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GE Capital to Buy Franchise Finance for $2.1 Bil

DANBURY, CT-GE Capital Corp.'s Commercial Equipment Financing business has signed an agreement to acquire Scottsdale-AZ based Franchise Finance Corp. of America in a deal valued at $2.1 billion.

By John Jordan | Updated on April 01, 2001

DANBURY, CT-In a deal that will give the company a major foothold in the franchise finance business, GE Capital has agreed to acquire Franchise Finance Corp. of America of Scottsdale, AZ for $2.1 billion. GE Capital, headquartered in Stamford, CT, will acquire Franchise Finance through its Commercial Equipment Financing business based here, company officials say.

Franchise Finance of America, which has 180 employees at its Scottsdale headquarters, is a single-tenant retail property finance company for multi-unit operators of chain restaurants, convenience stores and automotive services and parts outlets. The REIT has an investment/servicing portfolio of more than 6,200 properties in the US and Canada.

Its clients include operators of such franchises as: Applebee’s, Arby’s, Burger King, Checker Auto Parts, Chevron, Circle K, Citgo, Cracker Barrel, Hardee’s, Jack in the Box, Long John Silver’s, Midas Muffler Shops, Pizza Hut, 7-Eleven, Taco Bell, Texaco, Valvoline Instant Oil Change, and Wendy’s.

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