MORRISTOWN, N.J. - October 23, 2012 - (BUSINESS WIRE) - Villa Enterprises Management Ltd., Inc. (and its affiliates) announced today that it closed a seven-year, $15M credit facility with Capital One Bank. Villa and affiliated companies own, operate and franchise 329 Quick Service Restaurants (QSRs), fast casual and full service restaurants in 38 states and seven countries.
“We are pleased to partner with Villa Enterprises, a leader in the restaurant industry that has demonstrated great prospects for strategic growth”
Ben Scotto, President, said that the primary purpose of the credit facility is to fund acquisitions. Named to the Inc. 5000 this year, Villa acquired The Office chain out of bankruptcy in 2011 and acquired Everything Yogurt Brands in 2003.
“The combination of the credit line and the company’s cash reserves will create a substantial acquisition fund that will position us to deliver on our growth plan by supplementing Villa’s internal growth and franchising with strategic acquisitions,” said Scotto.
“We are pleased to partner with Villa Enterprises, a leader in the restaurant industry that has demonstrated great prospects for strategic growth,” said Anthony Pirretti Jr, Senior Vice President, Middle Market, Capital One Bank. “We look forward to working with the management team at Villa Enterprises as the company evolves and assesses acquisition opportunities.”
For additional information please contact Ben Scotto at 973-285-4800.
Villa Enterprises Management Ltd., Inc. (and its affiliates, Villa Enterprises) is a global multi-concept restaurant franchisor with over 320 quick service restaurant (QSR) locations in malls, airports, casinos, college campuses and outlet centers across 38 U.S. states, Washington, D.C., Puerto Rico and seven countries. Founded in 1964 by Naples, Italy native Michele Scotto as a small pizzeria next to the Ed Sullivan Theater in New York City, Villa Enterprises today is an international organization that owns several unique QSR brands: Villa Fresh Italian Kitchen; Villa Pizza; Green Leaf’s; Bananas; Casa Java; Mo’ Burger; Far East; The Market by Villa and South Philly Steaks & Fries. Additionally, Villa Enterprises Management owns and operates several upscale full-service restaurants in the New York City Metro area. For more information, please visit www.villaenterprises.com.
For Villa Enterprises Management Ltd., Inc.
609-397-4242, ext. 139