Business
Gladstone Capital Leads $55 Million Financing to Support Café Zupas' Continued Growth
MCLEAN, VA / ACCESSWIRE / December 14, 2023 / Gladstone Capital Corporation (NASDAQ:GLAD) ("Gladstone Capital") announced that it is acting as Administrative
About this update from Gladstone Capital Corporation
[{"type":"text","content":"MCLEAN, VA / ACCESSWIRE / December 14, 2023 / Gladstone Capital Corporation (NASDAQ:GLAD) (\"Gladstone Capital\") announced that it is acting as Administrative Agent and Lead Arranger on a $55 million senior secured credit facility for existing borrower Café Zupas, a portfolio company of KarpReilly, LLC. The financing provides incremental committed capital to support management's new store development initiatives. Lafayette Square and certain of its affiliated entities are co-lenders.Headquartered in Salt Lake City, Utah, Café Zupas is a healthy fast casual restaurant brand with 73 company-owned stores across eight states in the Western and Midwestern United States. The business is a next-generation kitchen that serves simple house-made soups, salads and sandwiches from over 200 fresh ingredients with the mission to \"Nourish the Good Life\" of its everyday healthy guests.\"We are very excited to expand our relationship with Gladstone Capital, which has been a trusted partner and helped facilitate our Company's continued growth. Gladstone Capital has been incredibly responsive and a pleasure to work with. Likewise, we are delighted to add Lafayette Square as another fantastic financial partner. Lafayette Square's investment strategies closely align with Cafe Zupas' approach to building a holistic growth opportunity for all that are involved. We look forward to a strong relationship and continual success\", said Paul Killpack, CFO Cafe Zupas.\"We are delighted that our partners at Café Zupas and KarpReilly entrusted us with crafting a homemade solution in support of management's continuing growth plans,\" said Ray Logan, Director of Gladstone Capital. \"As an active and experienced credit investor in the restaurant, food and beverage sectors, we are pleased to deliver yet another timely and custom financing for a leading and growing concept in the restaurant space.\"\"We are excited to finance the growth and expansion of Café Zupas,\" said Ryan Ochs, Managing Director, Head of Underwriting and Origination at Lafayette Square. \"Café Zupas is testament to the fact that stellar operating results and high ethos are not mutually exclusive. We believe this investment will bring new jobs and high-quality food to local communities, aligning well with our mission to support small businesses across the United States.\"About Café Zupas: Be...