Smashburger, a Denver, CO-based burger restaurant, closed a $35m line of credit with Golub Capital.
The company intends to use the proceeds to finance its growth plans, which include 30% new unit growth for 2013 by opening 50 to 60 company and franchise locations this year, ending the year at close to 250 locations and 300+ units by the end of 2014.
Launched in 2007 with an initial investment from concept development firm Consumer Capital Partners and today led by Dave Prokupek, chairman and CEO, Smashburger offers burgers, chicken sandwiches, salads, signature side items and hand-spun Häagen-Dazs shakes. The company currently has more than 210 corporate and franchise restaurants operating in 29 states and in four international countries.
In addition to the planned openings for this year, the company has agreements for over 250 franchise locations that are expected to open over the next several years, across the U.S. and internationally including Canada, the United Kingdom and Australia.
FinSMEs
25/06/2013