MONTREAL — Foodtastic Inc. has closed a $175-million revolving debt facility to fund acquisitions.
The lending group is led by National Bank of Canada and also includes Royal Bank of Canada, Bank of Nova Scotia, Toronto-Dominion Bank, Canadian Western Bank and the Business Development Bank of Canada. This new debt is in addition to the existing equity investment of Restaurant Royalty Partners, a joint venture of Oaktree Capital Management, L.P. and JHR Capital LLC.
“Our new debt facility will allow more leading restaurant brands to find a home in the Foodtastic portfolio,” says Peter Mammas, president and CEO of Foodtastic. “Our access to capital, brand-management track record and reputation for an efficient transaction process continue to make us a buyer of choice in North America.”
