Franchise Financing

25 February 2009

GE Capital Solutions, Franchise Finance Provides Financing to Mitchell Distributing for Acquisition

 

Mitchell acquires Cash Distributing, grows to Mississippi’s second largest Anheuser-Busch distributor

SCOTTSDALE, Ariz.--25 February 2009-- GE Capital Solutions, Franchise Finance announced today a multi-million dollar loan for Mitchell Distributing in Meridian, Miss., for the purchase of Cash Distributing, a neighboring beverage distributor, elevating Mitchell Distributing to the second largest Anheuser-Busch wholesaler in the state.

“Mitchell Distributing came to us because of our in-depth knowledge and experience in the beverage industry,” says Brian Hoogendoorn, vice president GE Capital Solutions, Franchise Finance. “As our new relationship with Mitchell Distributing demonstrates, our menu of products provides wholesalers the flexibility they need to grow their businesses.”

This is the first lending agreement between GE’s Franchise Finance business and Mitchell Distributing. The acquisition is the largest of any single beer distributorship in Mississippi, enabling Mitchell Distributing to double its business to nearly six million cases and expand into the Columbus and Tupelo markets. Mitchell was represented in the transaction by Bickers Consulting Group of Atlanta.

“We have been in this business for a long time and wanted a lender who shared both our passion for and level of experience in our industry,” says Manny Mitchell, CEO and owner of Mitchell Distributing. “GE Capital Solutions, Franchise Finance understands our industry, and their expertise helped me take my company to the next level.”

Mitchell Distributing is a family-owned and operated Anheuser-Busch distributor that opened its first warehouse in Meridian, Miss., in 1947. Mitchell Distributing also operates warehouses in Leland, Columbus, and Tupelo.

About GE Capital Solutions, Franchise Finance

GE Capital Solutions, Franchise Finance is a leading lender for the franchise finance market via direct sales and portfolio acquisition. With over 30 years of experience and $15 billion in served assets, we serve over 5,000 customers and over 22,000 property locations, primarily in the restaurant, hospitality and branded beverage industries. We provide financing for all your business needs. More information is available at www.gefranchisefinance.com or by calling 866-GET-GEFF (438-4333).

GE Capital Solutions provides leasing, lending, and capital investment products and services to help business customers grow. It has more than $100 billion in assets, serves more than a million clients around the world, and is headquartered in Norwalk, Connecticut, USA.

GE (NYSE: GE) is Imagination at Work — a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.