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COTTI FOODS RECEIVES $39.4M LOAN TO PURCHASE 39 WENDY’S RESTAURANTS

Posted on by in Retail, Western

LOS ANGELES – Cotti Foods has received a $39.4-million loan to acquire 39 Wendy’s Restaurants throughout Los Angeles and Hawaii. Some of the funds will also be used to remodel existing units, as well as to develop new units.

The acquisition includes 32 restaurants in the Greater Los Angeles market and seven in Hawaii. The restaurants were sold by Wendy’s International Inc. So far, the company has disposed of 418 Wendy’s restaurants across 13 U.S. markets. Most of these dispositions occurred out West.

The loan was provided by GE Capital’s Franchise Finance business.

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