MONTREAL, April 8, 2013 /CNW Telbec/ - GE Capital's Canadian Franchise
Finance business announced today that it has established a development
credit facility for Interaction Asian Restaurants L.P. The company will
use it to expand the P.F. Chang's China Bistro concept in Canada.
Headquartered in Montreal, the Interaction Restaurants Group is a
restaurant management and holding company that has been operating and
expanding various restaurant and food service concepts in Canada for
about 20 years. Interaction has recently opened the first Canadian P.F.
Chang's China Bistro at the Shops at Don Mills, in Toronto, ON, and
will open two more this year in Quebec.
"We've been impressed by GE Capital's commitment to the restaurant
industry and its deep understanding of what the development of a
franchise concept in new markets involves," said Michael Aronovici,
president of Interaction Restaurants Group. "GE Capital provided us
with a solid financial foundation and a team of experts that will help
us grow the P.F. Chang's concept across Canada."
"We have had a long relationship with Michael and Interaction, and we
are proud to be involved in the introduction and development of the
P.F. Chang's concept in Canada," said Edward Khediguian, senior vice
president of GE Capital's Franchise Finance business in Canada. "The
P.F. Chang's concept has been a hit with customers in the United States
for more than 15 years, and has proven to be successful with Canadians
in the Toronto market. The expansion of the concept in Canada has been
highly anticipated by both the public and the industry."
About Interaction Asian Restaurants, L.P.
Interaction Asian Restaurants, L.P. was created and is controlled by
General Partner and President Michael Aronovici, whose holding company,
Interaction Restaurants Group, has been operating for over 20 years in
the food services industry in Canada. Under his leadership, Interaction
has been successfully involved with four different restaurant and food
service concepts, including Starbucks Coffee and Pizza Hut. Mr.
Aronovici has served on the board of the Canadian Restaurant and
Foodservices Association since 1997 and was chairman of the board in
About GE Capital, Franchise Finance
GE Capital, Franchise Finance is a leading lender to the franchise
finance market, serving the restaurant and hospitality industries. We
specialize in financing regional and national restaurant businesses of
all sizes across the country. In the past 11 years, we've provided more
than 725 restaurant customers with financing for more than 1,525
property locations. That's in excess of $1.25 billion that we've
invested in the Canadian restaurant space. In the Canadian hotel
market, we provide financing for nationally known brands in the limited
and select-service segments of the industry.
With 19 offices throughout Canada, GE Capital (gecapital.ca) offers a wide variety of financial products and services to address
commercial financing and fleet management needs in many phases of a
business' lifecycle. From equipment finance to working capital and
growth financing to large asset-based and restructuring loans, we apply
our wealth of industry expertise to develop custom solutions for your
company. Some of the industries in which we specialize include
transportation, construction, manufacturing, aerospace, automotive,
mining, energy, wholesale, retail, restaurant and hotel franchise
GE (NYSE: GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in
energy, health and home, transportation and finance. Building,
powering, moving and curing the world. Not just imagining. Doing. GE
works. For more information, visit the company's website at www.ge.com.
SOURCE: GE CAPITAL CANADA