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Franchisee of Little Caesars, Sizzler gets $58M for expansion

SALT LAKE CITY Sizzling Platter LLC, an 88-location operator of brands including Little Caesars, Sizzler Steakhouse and Red Robin Gourmet Burgers, closed late last year on $58 million in financing to fund expansion, including the purchase of a 51-unit Little Caesars franchisee in Utah, the company’s lender said on Wednesday

Sizzling Platter is using the senior-term debt loan and revolving line of credit to also refinance its existing debt and fund new unit development in Colorado, Idaho, Washington and Nevada.

The Little Caesars deal, completed in late December, gave Sizzling Platter a total of 88 restaurants. The original franchisee of Sizzler Steakhouse, Sizzling Platter also operates such brands as Ruby River Steakhouse, Spaghetti Mama’s and Hoppers.

Sizzling Platter is owned by Chicago-based, private-equity firm Valor Equity Partners, which purchased the restaurant company in 2006. The $58 million was financed by Scottsdale, Ariz.-based GE Capital Solutions, Franchise Finance.

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