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 announced Tuesday an agreement to acquire a majority stake in Carpinteria, Calif-based CKE Inc., 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.”
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 is Roark’s 14th restaurant investment, according to the private equity firm. Its portfolio includes Auntie Anne’s, Cinnabon, Carvel Ice Cream, Corner Bakery, Schlotzsky’s and Wingstop.
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