AB Private Credit Investors ("AB-PCI") provided a $146,500,000 senior secured credit facility to KBP Foods ("KBP"). Use of proceeds includes refinancing KBP's existing debt, funding a recent acquisition of 91 KFC and Taco Bell restaurants, and funding future growth. Bob Bielinski, Managing Director of AB-PCI, said, "Best in class is an overused term today, but Mike Kulp and the KBP team are truly best in class operators. Their track record of improving operations at acquired businesses is unmatched." Michael Kulp, President and CEO of KBP said, "Not only did AB-PCI provide financing for a very significant acquisition, but they also provided the flexibility and support necessary to allow us to continue to execute our business plan and invest in assets. They understood the opportunity in front of us and delivered the capital we need to continue to grow."
About KBP Foods: KBP owns and operates more than 360 restaurants in 14 states under franchise agreements primarily with KFC and Taco Bell. The company is one of the largest domestic Yum! Brands franchisees and among the top 20 largest restaurant franchisees of any brand in the United States. www.kbp-foods.com
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