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CWB - Canadian Western Bank News Story

C$26.57 -0.0  -0.0%

Last Trade - 25/09/20

Sector
Financials
Size
Mid Cap
Market Cap £1.36bn
Enterprise Value £3.20bn
Revenue £517.6m
Position in Universe 158th / 2679

CWB Franchise Finance provides financing to Ricky’s Group for acquisition of Famoso Neapolitan Pizzeria

Wed 18th July, 2018 2:00pm
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MISSISSAUGA, July 18, 2018 (GLOBE NEWSWIRE) -- CWB Franchise Finance (CWB), a
division of CWB Financial Group, has provided a term loan facility to
Ricky’s Family Restaurants (Ricky’s Group) for the acquisition of the
Famoso Neapolitan Pizzeria chain (Famoso). Established in 2006, Famoso has 30
franchised locations in British Columbia, Alberta, Saskatchewan and Ontario,
and is known for using authentic ingredients and processes in their
premium-casual pizzeria restaurants. Ricky’s Group is part of the FDF
Restaurant Brandz folio, with 175 franchised restaurant locations including
Ricky’s All Day Grill, Ricky’s Country, Ricky’s Cafes and Fatburger.

“We’ve partnered with the leadership team at Ricky’s Group for more than
12 years and are pleased to assist with the addition of this complimentary
brand to their portfolio,” said Trish Halliwell, a senior manager with
CWB’s restaurant division. “When our long-standing partners want to grow,
we’re there to work with them on their specific financing needs, and to
support transaction analysis and due diligence. With this deal, we’ve also
established new financing programs that will benefit Ricky’s and Famoso
franchisees.”

Frank Di Benedetto, CEO and owner of FDF Restaurant Brandz, adds: “CWB
Franchise Finance has been a key partner, providing guidance and financial
support in our efforts to expand over the last 12 years. CWB is a highly
skilled group that understands the franchised restaurant sector extremely
well.”

About CWB Franchise Finance CWB Franchise Finance, a division of CWB Financial
Group, specializes in financing for regional and national restaurants and
hotels and is a leading lender to the Canadian restaurant and hospitality
industries. Previously GE Capital Canada’s franchise financing arm, CWB
Franchise Finance was acquired by CWB Financial Group in 2016 following a
successful track record of more than 800 clients with upwards of 1,525
property locations over 14 years. To date, more than $3 billion has been
invested in the Canadian hotel and restaurant space. Learn more at
www.cwbfranchise.com.

About CWB Financial Group CWB is a diversified financial services organization
serving businesses and individuals across Canada. Operating from its
headquarters in Edmonton, Alberta, CWB’s key business lines include
full-service business and personal banking offered through 42 branches of
Canadian Western Bank and Internet banking services provided by Motive
Financial. Highly responsive specialized financing is delivered under the
banners of CWB Equipment Financing, CWB National Leasing, CWB Maxium
Financial, CWB Franchise Finance and CWB Optimum Mortgage. Trust Services are
offered through Canadian Western Trust. Comprehensive wealth management
offerings are provided through CWB Wealth Management, which includes the
businesses of McLean & Partners Wealth Management and Canadian Western
Financial. As a public company on the Toronto Stock Exchange (TSX), CWB trades
under the symbols “CWB” (common shares), “CWB.PR.B” (Series 5
Preferred Shares) and “CWB.PR.C” (Series 7 Preferred Shares). Learn more
at www.cwb.com.

About Ricky’s Group Ricky’s Group of family-style restaurants, operating
Ricky’s All Day Grill, Ricky’s Country Restaurants, Fatburger and Famoso
Pizzeria, has 175 restaurants across Canada in its franchised restaurant
folio.  Ricky’s started as a family-style pancake restaurant in 1962 in
Vancouver, and is a privately-held company owned by Frank Di Benedetto that
has evolved into a multi-brand franchised group based out of Burnaby, B.C.

For more information:

Ed Khediguian
Vice President, Franchise Finance
CWB Franchise Finance
Phone: (647) 465-0591
Email: ed.khediguian@cwbfranchise.com

Jerry Inkster
Chief Financial Officer
Ricky’s Group
Phone: (604)-637-7272




GlobeNewswire, Inc. 2018
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