Smashburger Plans Expansion Without the Aid of IPO

Smashburger Plans Expansion Without the Aid of IPO

In spite of some investors' hopes that it would file for a public offering, fast casual restaurant chain Smashburger has secured a $35 million loan from Golub Capital to fund its expansion plans, reports The Wall Street Journal. The money, together with the cash Smashburger has been able to amass, will allow the chain to keep expanding through the next three years or so.

The restaurant chain, which currently has roughly 200 locations, would like to operate anywhere from 400 to 500 units by 2016, with many of the new locations slated for big urban markets. It aims to open approximately 50 new restaurants a year.

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