Trinity Capital today announced that its client, Manna Development Group, has secured a credit facility with CapitalSpring. Proceeds were used to refinance the company’s debt and acquire 38 Panera Bread cafes in Colorado. The facility also includes an expanded development line for future growth.
Headquartered in Encinitas, CA, Manna Development Group owns and operates 135 Panera Bread cafes in California, Indiana, Michigan, Oregon, Washington and Colorado.
“Trinity was a valuable advisor throughout a lengthy engagement, helping my team explore and understand the various strategic alternatives available to us.” said Paul Saber, President and CEO of Manna Development Group. “Their professionalism and expertise were second-to-none, and I would highly recommend their services to other business owners considering a refinancing or sale.”
“This transaction enabled Manna Development Group to significantly expand its overall unit count, adding another state to its operations base and enhancing its position for future growth. Manna’s operational excellence and strategic thinking make it a well-respected player in this expanding restaurant segment,” said Kevin Burke, Founder and Managing Director of Trinity Capital.
Trinity Capital provides financial advice to middle market businesses regarding mergers and acquisitions, leveraged and management buyouts, debt restructuring and private placements of debt and equity. The firm, a FINRA-registered financial advisor, combines Wall Street experience and investor relationships with boutique client service and has deep sector expertise in restaurants, consumer/retail, food and beverage, and other industries. Trinity is headquartered in Los Angeles.