The Atlanta-based owner of Arby’s and Moe’s Southwest Grill is welcoming a new chain to the family: Hardee’s.
Roark Capital Group has agreed to acquire a majority stake in CKE Inc., the Carpinteria, Calif-based owner of Hardee’s and Carl’s Jr. burger chains.
Terms of the acquisition were not disclosed, but the deal is expected to close in the fourth quarter.
“We’re looking forward to our long-term partnership with Roark Capital Group,” Andy Puzder, CKE’s chief executive officer, said in a release. “Their proven track record of success and deep expertise in the restaurant and franchise sectors will be very beneficial as we continue to grow and expand CKE’s market-leading brands around the world.”
Atlanta increasingly is becoming the home of top fast-food brands or their parent companies. Brands such as Chick-fil-A, Popeyes, Church’s Chicken, Waffle House and Hooters call the metro area home.
In late 2012, Krystal, known for its small bite-size burgers, announced it was relocating its headquarters from Chattanooga, its birthplace, to Atlanta. The chain cited better access to its restaurants via Hartsfield-Jackson International Airport as motivation.
There was no indication that Hardee’s or any of CKE’s other brands headquarters would be making a move east.
In addition to Carl’s Jr. and Hardee’s, CKE’s other brands include Green Burrito and Red Burrito restaurant brands. The company, with 3,400 restaurants in 42 states and 29 countries and U.S. territories, listed revenues of about $3.9 billion.
The acquisition, announced Tuesday, is the 14th restaurant investment for Roark, a private equity firm. Its portfolio includes Auntie Anne’s, Cinnabon, Carvel Ice Cream, Corner Bakery, Schlotzsky’s and Wingstop.
Roark bought Atlanta-based Arby’s in 2011 for a reported $430 million after the fast-food giant was split from its short-lived marriage to burger chain Wendy’s.
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