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CWB Franchise Finance provides financing to Ricky's Group for acquisition of Famoso Neopolitan Pizzeria

MISSISSAUGA, July 18, 2018
– CWB Franchise Finance (CWB), a division of CWB Financial Group, has provided a term loan facility to Ricky’s Family Restaurants (Ricky’s Group) for the acquisition of the Famoso Neapolitan Pizzeria chain (Famoso). Established in 2006, Famoso has 30 franchised locations in British Columbia, Alberta, Saskatchewan and Ontario, and is known for using authentic ingredients and processes in their premium-casual pizzeria restaurants. Ricky’s Group is part of the FDF Restaurant Brandz folio, with 175 franchised restaurant locations including Ricky’s All Day Grill, Ricky’s Country, Ricky’s Cafes and Fatburger. 

“We’ve partnered with the leadership team at Ricky’s Group for more than 12 years and are pleased to assist with the addition of this complimentary brand to their portfolio,” said Trish Halliwell, a senior manager with CWB’s restaurant division. “When our long-standing partners want to grow, we’re there to work with them on their specific financing needs, and to support transaction analysis and due diligence. With this deal, we’ve also established new financing programs that will benefit Ricky’s and Famoso franchisees.”

Frank Di Benedetto, CEO and owner of FDF Restaurant Brandz, adds: “CWB Franchise Finance has been a key partner, providing guidance and financial support in our efforts to expand over the last 12 years. CWB is a highly skilled group that understands the franchised restaurant sector extremely well.”

About Ricky’s Group Ricky’s Group of family-style restaurants, operating Ricky’s All Day Grill, Ricky’s Country Restaurants, Fatburger and Famoso Pizzeria, has 175 restaurants across Canada in its franchised restaurant folio. Ricky’s started as a family-style pancake restaurant in 1962 in Vancouver, and is a privately-held company owned by Frank Di Benedetto that has evolved into a multi-brand franchised group based out of Burnaby, B.C.