Barteca Holdings LLC recently received a $74 million credit facility to refinance existing debt and open new restaurants, its lender, Citizens Bank, said this week.
Barteca’s recent minority investment from the private investment firm General Atlantic was part of the financing package.
Barteca operates Barcelona Wine Bar, which has 12 locations, as well as Bartaco, which has 10 units. The company was founded in 1995 and also includes Rosser Capital Partners among its investors. There are five more restaurants currently under construction.
Citizens Bank was the left lead arranger and administrative agent for the refinancing package.
“The Barteca team, along with Rosser Capital Partners, has built two of the most talked-about growth concepts in the restaurant industry,” Thomas Hung, senior vice president of chain restaurants for Citizens Bank’s Restaurant Finance Group. “With the addition of General Atlantic, the company is now poised to reach even greater heights.”
Barteca announced the funding from General Atlantic last month. The investment is expected to help fuel the company’s growth and give it access to General Atlantic’s resources that could help its growth.
Contact Jonathan Maze at [email protected].
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