Citizens Bank announced that it acted as left lead arranger and administrative agent on a $74 million credit facility for Barteca Holdings.
In conjunction with the financing, Barteca Holdings also received a minority investment from General Atlantic, a leading growth equity firm. General Atlantic joins existing investor Rosser Capital Partners, a private investment firm focused on investing in restaurant, consumer and retail companies. The credit facility refinanced the company’s existing indebtedness, and also includes a sizable development line that will be used to build multiple new restaurants.
Founded in 1995 by Andy Pforzheimer, chief executive officer, and Sasa Mahr-Batuz, creative drector, Barteca Holdings is the parent company of acclaimed restaurants Barcelona Wine Bar and Bartaco. Barcelona Wine Bar, a warm and welcoming Spanish tapas bar serving small plates of food using the finest seasonal picks from local markets and unusual specialties from Spain and the Mediterranean, is an upscale restaurant operating in 12 locations. Bartaco, a more casual restaurant that brings upscale street food with a coastal vibe into a relaxed and stylish environment, operates in 10 locations.
"Sasa and I created Barteca with the goal of providing our guests with a unique dining experience, where great food and attentive service are fun, stylish, and accessible," says Andy Pforzheimer, co-founder and chief executive officer of Barteca. Jacob Organek, co-founder and partner of Rosser Capital Partners, adds "Citizens Bank’s Restaurant Finance team has been tremendous in helping accelerate Barteca’s growth over the last several years. We are excited to further expand our partnership through this new financing, and for the new investment from General Atlantic."
“The Barteca management team, along with Rosser Capital Partners, has built two of the most talked about growth concepts in the restaurant industry. With the addition of General Atlantic, the company is now poised to reach even greater heights,” says Thomas Hung, senior vice president and head of chain restaurants with Citizens Bank’s Restaurant Finance group.