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Villa Enterprises Management Ltd. Inc. announced that it closed a seven-year, $15 million credit facility with Capital One Bank.
Villa and its affiliated companies own, operate and franchise 329 quick-service and full-service restaurants in 38 states and seven countries. The portfolio currently includes Villa Fresh Italian Kitchen, Villa Pizza, Green Leaf's, Bananas, Casa Java, Mo' Burger, Far East, The Market by Villa and South Philly Steaks & Fries.
Ben Scotto, president, said that the primary purpose of the credit facility is to fund more acquisitions. Named to the Inc. 5000 this year, Villa acquired The Office chain out of bankruptcy in 2011 and acquired Everything Yogurt Brands in 2003.
"The combination of the credit line and the company's cash reserves will create a substantial acquisition fund that will position us to deliver on our growth plan by supplementing Villa's internal growth and franchising with strategic acquisitions," Scotto said.
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