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Fast Food

Carl’s Jr. Parent Company to File for $100-million IPO

Facebook isn’t the only company with eyes set on a public offering this week, looks like the fast food game is looking to get in on some of the action.

CKE Inc., the parent company that operates Carl’s Jr. and Hardee’s chains, has just filed for an initial public offering of stock that could raise an estimated $100 million.

The registration statement filed yesterday with the Securities and Exchange Commission notes that the company has yet to determine the size of the offering or an estimated price range. This is also not the company’s first time in the public offering rodeo. In fact, the restaurant, started by Carl Karcher back in the 1940s, has had quite a roller coaster past.

In 1981, the company went public; in 1997 CKE acquired the Hardee’s chain and then in 2010 the entire company was taken private when it was bought by private equity firm Apollo Management for nearly $700 million.

There’s very little information out about why the move to go public is happening now. According to reports and recap by the LA Times, CKE’s last fiscal year suffered a $19.3-million net loss while revenue slipped 3.9% to $1.3 billion.

To CKE’s credit, before being bought by Apollo, they were a part of a series of declines when the recession hit.

According to rumors, the chain might be launching a new burger next week…possibly a Grilled Cheese Bacon Burger.

 

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News

CKE: Carl's Jr. and Hardee's Parent Co. Bought for $619 Million and Debt

Thomas H. Lee Partners, a Boston firm also responsible for the purchases of Dunkin’ Brands Inc. back in 2006 has inked a deal with CKE Restaurants Inc. to assume roughly $309 million in debt from CKE. CKE shareholders will receive $11.05 in cash for each share belonging to them, a noted 24 percent premium to its closing price this past Thursday of $8.91. What does all this mean for Carl’s Jr.  and Hardee’s?

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Carl's Jr: CEO Speaks up Regarding McDonald's Angus Burger

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After more than a month after the release of McDonald’s Angus Third Pounder burgers, CKE restaurants chief executive CEO Andy Puzder was definitely not shy about expressing his opinion about his rival’s new menu items. McDonald’s new burger is most notably comparable to Carl’s Jr. series of 6 Dollar Burgers and Hardee’s series of Thickburgers. He is quoted saying, “This McAngus is a copycat version tht is inferior, and for which they charge more money for.”

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CKE Restaurants: Carl's Jr. & Hardee's to Offer Monster Energy

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In what seems like a match made in heaven, CKE Restaurants (parent company of Carl’s Jr. and Hardee’s) has partnered with Monster Beverage Company to become the first nationwide fast food chain to offer the Monster energy drink. Both companies have been known to approach their marketing tactics through action sports and music sponsorships, so it should be easy how they continue to forge their relationship. Eat, and now..drink, on!

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News

Carl's Jr. in Kazakhstan, Very Nice!

12 new Carl’s Jr. restaurants are set to open in Kazakhstan over the next 5 years. To get an idea, there are almost 200 Hardee’s restaurants throughout the Middle East. I guess only question left to ask is, how much?