CKE Restaurants

CKE Restaurants Holdings, Inc.
Private
Industry Restaurants
Founded 1966 (1966)
Founder Carl Karcher
Headquarters Franklin, Tennessee, United States
Key people
 Jason Marker (CEO)
Ned Lyerly (President)
Theodore Abajian
(EVP and CFO)
Revenue Increase US$1.280 billion (2012)[1]
Increase US$68.897 million (2012)[1]
Increase US$-6.261 million (2012)[1]
Total assets Decrease US$1.480 billion (2012)[1]
Total equity Decrease US$414.7 million (2012)[1]
Owner Roark Capital Group
Number of employees
 20,200 (Jan 2012)[1]
Subsidiaries Carl's Jr.
Hardee's
Green Burrito
Red Burrito
Website www.ckr.com
Map showing the states with locations of Hardee's colored red and states with Carl's Jr.'s in yellow. States with both Carl's Jr.'s and Hardee's are colored orange.

CKE Restaurants Holdings, Inc., is the parent company of the Carl's Jr., Hardee's, Green Burrito, and Red Burrito fast food restaurant brands.[2] The company's headquarters are located in Franklin, Tennessee. The name means "Carl Karcher Enterprises." On March 4, 2016, CKE Restaurants Holdings, Inc., announced that they would be consolidating their corporate offices in St. Louis, Missouri, and Carpinteria, California, and moving them to the Nashville, Tennessee, area at the Franklin Park office complex.[3] CKE’s Anaheim, California, office will remain open.

As of March 2016, CKE Restaurants had a total of 3,664 franchised or company-operated restaurants in 44 states and 38 foreign countries and U.S. territories.[4] It is a privately held company.[5]

History

1960s

The company was incorporated in 1966 by Carl's Jr. founder Carl Karcher.

1990s

In 1996, CKE acquired Rally's and Taco Bueno. Rally's was later sold to Checkers in 1999. Checkers and Rally's now follow a similar concept as CKE has for its Carl's Jr. and Hardee's chains. Taco Bueno was sold in 2001 when private investment group Jacobson Partners purchased the chain for $72.5 million US dollars to help aid CKE Restaurants in a debt battle.[6]

In 1997, CKE acquired Hardee's from Canadian-based company Imasco Limited.[7]

2000s

In September 2000, Andrew Puzder was named CEO. Puzder served in this role until 2017.

In March 2002, CKE purchased Santa Barbara Restaurant Group, Inc. (SBRG), acquiring with it direct ownership of the Green Burrito brand.

On February 26, 2010, THL Partners agreed to acquire CKE Restaurants Inc.[8] However, CKE Restaurants was, instead, acquired by Columbia Lake Acquisition Holdings, Inc., an affiliate of Apollo Management VII, L.P. in July 2010, after CKE accepted a $693.9 million takeover offer from Apollo Global Management, ending the earlier takeover agreement with THL Partners.[9]

On November 20, 2013, Roark Capital Group agreed to acquire CKE from Apollo for $1.65-$1.75 billion.[10]

Fundraising

CKE conducts an annual Stars for Heroes in-store fundraising campaign at both Hardee’s and Carl’s Jr. restaurants to benefit U.S. military veterans and their families. Since the program’s launch in 2011, Stars for Heroes has raised nearly $5 million to date.[11]

International

As of March 2016, there are a total of 3,664 franchised or company-operated restaurants in 44 states and 38 foreign countries and U.S. territories.[12]

References

  1. 1 2 3 4 5 6 "CKE Restaurants, Form 10-K, Annual Report, Filing Date April 11, 2012" (PDF). secdatabase.com. Retrieved March 26, 2013.
  2. ↑ "CKE Restaurants, Form 10-Q, Quarterly Report, Filing Date December 12, 2012". secdatabase.com. Retrieved March 26, 2013.
  3. ↑ "Hardee's parent moving HQ to Nashville area". The Tennessean. Retrieved 2016-04-05.
  4. ↑ "CKE Restaurants Holdings, Inc. Opens 700th International Restaurant | CKE Restaurants Investor Center". investor.ckr.com. Retrieved 2016-04-05.
  5. ↑ "CKE RESTAURANTS INC Form 8-K Current Report Filed 2013-03-18". Edgar.secdatabase.com. Retrieved 2017-02-15.
  6. ↑ "CKE WILL SELL ITS TACO BUENO UNIT FOR $72.5 MILLION". The New York Times. 15 March 2001. Retrieved 29 May 2011.
  7. ↑ "CKE RESTAURANTS INC (Form Type: 8-K, Filing Date: 05/05/1997)". edgar.secdatabase.com. Retrieved 2016-04-05.
  8. ↑ "CKE RESTAURANTS INC (Form Type: 8-K, Filing Date: 02/26/2010)". edgar.secdatabase.com. Retrieved 2016-04-05.
  9. ↑ "UNITED STATES SECURITIES AND EXCHANGE COMMISSION".
  10. ↑ "Roark Capital to buy CKE Restaurants from Apollo". Reuters. 2013-11-20. Retrieved 2016-04-05.
  11. ↑ "Carl's Jr. and Hardee's Raise $1.4 Million for U.S. Military Charities | CKE Restaurants Investor Center". investor.ckr.com. Retrieved 2016-04-05.
  12. ↑ "Carl's Jr.®". www.carlsjr.com. Retrieved 2016-04-05.

Further reading

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