CKE Restaurants

Roark Capital To Acquire CKE Restaurants

CKE Inc., parent company of Carl’s Jr. and Hardee’s, announced that an affiliate of Roark Capital Group entered into a definitive agreement to acquire a majority stake in the company with senior management retaining a minority stake. CKE is currently majority-owned and controlled by investment funds affiliated with Apollo Global Management, LLC. Terms of the transaction were not disclosed. The transaction is expected to close in the fourth quarter of 2013, subject to regulatory approvals and other customary closing conditions.