Foodservice franchise specialist Caskade Caterers has secured a funding package worth almost £30m to drive the roll-out of new Taco Bell sites in the south of England.
The company sees the deal as a chance to ramp up the number of sites it operates and attract new franchise opportunities.
The package, which is worth a total of £29.4m, comprises a £13m loan, £10m revolving credit facility and £6.4m commercial mortgage from HSBC.
It will help with the launch of new Taco Bell sites in London and the South West of England, including two units that have just opened in Poole and Southampton.
A further location is planned for London this summer, with an overall goal of three to five stores a year in future. Taco Bell currently has 24 stores in the UK.
Hamid Ali, CEO of Caskade Caterers, said that driving expansion is “top of our agenda”.
“We’ll be looking to build our portfolio through acquisitions, purchasing new sites and exploring new franchisee options in our target regions.”
Victoria Ritchie, HSBC’s area director for London City Corporate Banking, added: “We have forged a good relationship with Hamid, supporting his company’s growth over the last few years with impressive results. His new, fast-paced expansion plans for the UK show great ambition, with multiple sites planned in the next twelve months. “
Caskade Caterers is well-versed in what it takes to run an international fast food business. It currently runs 30 KFC restaurants in Dorset, Kent and Sussex.