April 01--Giordano's investor Victory Park Capital now has a $51 million credit facility to help the stuffed pizza chain work on growth plans, including continued expansion outside the Chicago area, the firm said Wednesday.
Chicago-based Giordano's has company-operated and franchised restaurants, with most in Illinois. Along with three locations in Florida, Giordano's opened a restaurant in Indianapolis this year. It also plans to open a restaurant in Minneapolis, according to the chain's website.
Victory Park Capital, a Chicago-based asset management firm, said it plans to use the new credit facility from GE Capital, Franchise Finance and Citizen's Bank to refinance its existing debt and fund Giordano's long-term growth initiatives.
"The new capital represents the next step in the continued development of our business," Giordano's CEO Yorgo Koutsogiorgas said in a statement.
As of December, 31 of Giordano's restaurants were franchise locations and 15 were run by the company.
jwohl@tribpub.com
