In 2007, Denver-based Spicy Pickle enjoyed a growth spurt that more than doubled its unit count from 16 to 36 locations. But when tightened credit markets reduced its growth goal by 60 percent this year, Marc Geman, chief executive at parent company Spicy Pickle Franchising Inc., didn’t want to idle expansion. He decided to acquire another concept that complemented the business model of the fast-casual, sandwich-centered chain using the equity in Spicy Pickle’s over-the-counter stock. The ...

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