Quiznos gets capital infusion
April 22, 2010
by Meat&Poultry staff
DENVER – Quiznos announced it received a significant injection of capital from its primary shareholders, including private equity funds affiliated with J.P. Morgan Partners, LLC and managed by CCMP Capital Advisors LLC and Consumer Capital Partners. Quiznos and its lending group also amended the terms of its existing secured debt to provide additional flexibility to the company.
This infusion of capital, reduction in debt and amendment to the terms of the company’s secured debt agreement provides Quiznos with the resources and flexibility to further its growth objectives, support its franchise owners and maintain the brand’s strong position in the competitive restaurant industry, the company said.
“We are very pleased with this announcement and the shareholder commitment this investment represents,” said Rick Schaden, founder and chief executive officer of Quiznos. “This investment demonstrates our shareholders’ confidence in our vision and strategic direction and lays a solid foundation for pursuing that vision with even greater fervor. We are pleased to be closely aligned with our shareholders and lender base for the benefit of our brand and our restaurants.”
Quiznos is a national quick-service restaurant chain with more than 4,000 locations offering sandwiches, soups and salads.