Wells Fargo's American Commercial Capital Provides Financing to Captain D's
American Commercial Capital announced that it has acted as co-lead arranger and administrative agent for a $62 million senior financing for Captain DÂ’s, LLC, owner of the Captain DÂ’s Seafood brand.
SAN DIEGO, CA (PRWEB) January 9, 2004
American Commercial Capital announced today that it has acted as co-lead arranger and administrative agent for a $62 million senior financing for Captain DÂ’s, LLC, owner of the Captain DÂ’s Seafood brand. The loan is divided into three facilities, including a term loan, a standby letter of credit facility, and a revolver. The funds will be used to refinance debt, collateralize existing letters of credit, and provide working capital.
Founded in 1969, Captain DÂ’s Seafood has over 560 locations nationwide, and enjoys the highest average unit volume of any quick serve seafood restaurant chain in the country. The concept offers fresh, high quality seafood in a quick service restaurant environment. The menu includes a wide variety of fresh fish, shrimp, and other seafood dishes, in addition to side items ranging from cole slaw and salads to hushpuppies and dessert, as well as health-oriented entrees such as broiled salmon, flounder, and catfish.
John Shrewsberry of American Commercial Capital stated, “Captain D’s is a brand with a solid history and the potential for an even better future. The new building prototypes and healthy menu additions will only ensure that the concept continues to enjoy its fantastic reputation in its core markets while expanding into new ones. We’re very excited to be a part of the company’s growth.”
“This is a great time for our brand,” said Ronald Walker, president and COO of Captain D’s, LLC. “And we’re extremely grateful to ACC for their professional expertise in the restaurant industry. With the entire Wells Fargo organization behind them, they were able to execute on all of our financial needs and help us to get right where we want to be for the future.”
American Commercial Capital (accapital. com) is a Wells Fargo Capital Markets Business providing capital to owners of multi-unit branded retail businesses in the restaurant and convenience store, travel plaza, and auto service industries.
Wells Fargo & Company (NYSE: WFC) is a diversified financial services company with $370 billion in assets, providing banking, insurance, investments, mortgage and consumer finance from more than 5,800 stores and the Internet (wellsfargo. com) across North America and elsewhere internationally.
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