Fast-casual pizza franchise, PizzaRev, announced today that it has entered into a debt financing agreement with Wintrust Franchise Services to support the company’s exponential growth.
“We’re eager to build on the growth momentum we’re experiencing with our customers and franchise partners, and the Wintrust fund will greatly support our strategic development goals,” says Rodney Eckerman, co-CEO and founder of PizzaRev.
The funding from Wintrust will help finance continued development of corporately owned PizzaRev units, as well as continued support of the growing franchise system. PizzaRev currently operates 15 corporate restaurants and seven franchise locations, with many more in various stages of development across the country. The agreement is inked less than one year since Buffalo Wild Wings, one of the world’s most successful public restaurant companies, completed its second equity investment in PizzaRev. PizzaRev formed a strategic partnership with Buffalo Wild Wings in 2013.
Sandy McCraren, President of Wintrust Franchise Services and Highland Bank Park & Trust, based in Illinois says, “PizzaRev’s strong unit economics, seasoned corporate management team and endorsement from Buffalo Wild Wings made this an attractive opportunity to us.”
The financing agreement was organized by specialty finance firm, Pinnacle Commercial Capital. This transaction marks the fourth transaction that Pinnacle has arranged for a leading brand or franchisor in the last two years.
President of Pinnacle, Bill Wildman says, “We have always focused on brands that are important to their customers, which is made apparent in PizzaRev’s strong unit volumes and the company’s credit quality. PizzaRev is a standout brand and one of the most exciting restaurants in the fast casual segment. We are flattered to be on the ground floor with such a compelling restaurant growth opportunity.”
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