Caskade Caterers secures £29.4m funding for UK Taco Bell plans
Caskade Caterers has secured a £29.4m funding package from HSBC to fund plans to roll out American classic fast food chain Taco Bell across the UK.
The HSBC package is made up of a £13m loan, £10m revolving credit facility, and a £6.4m commercial mortgage.
The package will help with the rollout across London and South East England, with the first two restaurants already open in Poole and Southampton.
Caskade Caterers CEO Hamid Ali is currently responsible for 30 KFC restaurants across Kent, Sussex and Dorset along with three hotels in Fiji.
Ali said: “Continuing to drive expansion is top of our agenda and with HSBC’s support, led by our Relationship Director Pankaj Singh, the new financial year will see us increase our presence in both London and the south of England.
“We’ll be looking to build our portfolio through acquisitions, purchasing new sites and exploring new franchisee options in our target regions.”
The ‘Tex Mex’ restaurant chain has gained enormous popularity in America, however restaurants in the UK are sparse.
