CWB Franchise Finance partners with CRAFT Beer Market on term loan and development facility
MISSISSAUGA, October 3, 2017 – CWB Franchise Finance (CWB), a division of CWB Financial Group, has provided a multi-product loan facility to CRAFT Beer Market (CRAFT), a growing Canadian restaurant brand with locations in Vancouver, Calgary, Edmonton, Ottawa and coming soon to Toronto. The funds will be used to consolidate and refinance existing corporate debt as the company grows their presence within targeted markets across Canada.
“We’re excited to partner with PJ L’Heureux and the team at CRAFT,” said Jacob Mancini, senior manager of CWB Franchise Finance’s restaurant division. “CWB is committed to working through flexible deals with our restaurant clients looking to grow their businesses. CRAFT’s strong growth profile is based on a unique concept which leverages a number of relevant trends in the space, including craft beers and fresh food with farm-to-table options. The financial solutions we’ve provided reflect both the strength of CRAFT’s concept, and the strength of its management team. Opportunities like this one are an excellent example of how we can offer attractive structures that make sense for our clients.”
“Our growth in targeted markets across Canada has been very strong, and the broad range of products provided by CWB gives us what we need to continue to grow,” said PJ L’Heureux, founder and CEO of CRAFT. “We are excited to open our second Calgary location on October 5, 2017, and our flagship store in downtown Toronto is on track to open within a few months. These are big milestones for us, and our relationship with CWB is a key part of the story. We’re confident CWB’s specialized and focused approach to lending in the restaurant space will be beneficial to us.”
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 have 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, 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).
About CRAFT Beer Market
Calgary-based CRAFT Beer Market is a premium casual restaurant with a large focus on craft beer and locally sourced foods. CRAFT opened the doors to its first location in Calgary’s Beltline district in 2011. CRAFT is a locally owned and operated success story, this 100% privately owned group has continued to expand in the last several years. They now have locations in Vancouver and Edmonton (opened in 2013) and Ottawa (May 2016). This year, CRAFT will open two more locations; a second location in Calgary at Southcentre, on October 5 and a new flagship location is downtown Toronto. CRAFT takes pride in being a small group of dedicated and passionate individuals that love fresh local food, fresh CRAFT beer, and value the positive impact they can make on their communities. Keep up to date on the opening of CRAFT Beer Market by visiting them online at www.craftbeermarket.ca where you can subscribe to the e-newsletter.
For more information:
Senior Vice President
CWB Franchise Finance
Phone: (647) 465-0591
Email : email@example.com
CRAFT Beer Market
Phone: 403-452-8856 ext. 2