Irvine-based Pacific Premier Bancorp Inc. agreed to pay about $16 million to acquire Infinity Franchise Holdings LLC, a lender serving the fast-food franchise industry.
Montvale, N.J.-based Infinity Franchise Holdings operates through its Infinity Franchise Capital LLC subsidiary, which as of the end of October had about $75 million in loans outstanding with no delinquencies, as well as $79 million in its loan pipeline.
The company has a client base that includes operators of Wendy’s, Dunkin’ Donuts, Taco Bell and KFC.
Pacific Premier is the parent company of Pacific Premier Bank, one of the largest banks headquartered in Orange County. It had nearly $1.6 billion in assets, including roughly $1.1 billion in loans as of the end of September, and $3.1 million in profit during the third quarter.
