MISSISSAUGA, July 4, 2017 – CWB Franchise Finance, a division of CWB Financial Group, has provided a multi-product loan facility to Browns Restaurant Group, an award-winning Canadian franchisor based in Vancouver. The funds will be used to consolidate and refinance existing corporate debt as the company grows their presence across Western Canada and enters the Eastern Canada market.
“We’re excited to partner with Scott Morison and the team at Browns Restaurant Group,” said Jacob Mancini, Senior Manager of CWB Franchise Finance’s restaurant division. “CWB Franchise Finance is committed to working through complex deals with our franchisor clients looking to grow their businesses. Opportunities like this one are an excellent example of how we can offer flexible accretive structures that make sense for our clients.”
“Our growth across Canada has been fast and furious,” said Scott Morison, founder and CEO of Browns Restaurant Group. “The broad range of products CWB Franchise Finance has provided gives us what we need to continue to grow, particularly into Ontario which is a new market for us. Their specialized and focused approach to lending in the restaurant space will be beneficial to us and our franchisees.” Ranked by Foodservice & Hospitality Magazine as #35 in the Top 100 list, the company has been the fastest growing restaurant brand in Canada for four of the last five years.
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 CWB Trust Services. 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 Browns Restaurant Group (BRG) is a Vancouver BC based company dedicated to developing franchised casual dining concepts that address specific market opportunities. With over 60 locations throughout Canada, each Browns Socialhouse® is owned and operated by a community-minded Franchisee. The first Ontario franchise is scheduled for Ottawa early in 2018. Whether it’s for a business lunch, after-work cocktails, a celebratory get-together with family and friends or a comfortable, relaxed environment to watch the big game, Browns Socialhouse® is the place to be. The word “socialhouse®” is trademarked to protect the business identity. Scotty Browns® offers the same great experience in 3 locations in Washington State. Liberty Kitchen™ is the latest addition to the brand portfolio. The first location Liberty Kitchen franchise is scheduled to open early in 2018. BRG is working on other concepts for future development. Visit www.brownsrestaurantgroup.com or find us on social media @brownssocialize.
For more information:
Senior Vice President
CWB Franchise Finance
Phone: (647) 465-0591
Email: [email protected]
Executive Vice President – Business Development
Browns Restaurant Group
Phone: (778) 980-2440
Email: [email protected]