You can be on Entrepreneur’s cover!

This Mega Deal Means Carl's Jr. and Hardee's Are Now in the Same Family as Arby's, Auntie Anne's and Cinnabon Roark Capital Group will acquire CKE Inc., the parent company of Carl's Jr. and Hardee's, adding to its extensive franchise brand portfolio, which includes Wingstop, Carvel Ice Cream and Arby's.

By Kate Taylor

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Call it a melding of food-court favorites.

Roark Capital Group, a private equity firm whose investments include Arby's, Auntie Anne's and Cinnabon, inked a deal Tuesday to acquire CKE Inc., the parent of Carl's Jr. and Hardee's.

CKE is currently owned by Apollo Global Management, LLC, a private equity firm that also owns accessories retailer Claire's, public gaming corporation Caesars Entertainment and Norwegian Cruise Line.

The deal values CKE somewhere between $1.65 and $1.75 billion, Reuters reports, citing people familiar with the matter. CKE and Roark have not revealed the financial terms of the deal.

Related: Did You Say 'Charbucks?' 7 Big Chains That Battled the Name Game

"We're looking forward to our long-term partnership with Roark Capital Group," Andy Puxder, CKE's CEO said in a statement. "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."

The transaction is expected to close in the fourth quarter of 2013.

CKE has 3,400 franchised or company-owned restaurants in 42 states and 29 countries and territories. CKE is Roark's 14th restaurant investment, joining the ranks of Arby's, Auntie Anne's and Cinnabon.

With the investment, Roark's franchise brand portfolio will encompass 27 companies that collectively have more than 15,000 locations across all 50 states and 68 countries. Roark's total locations include nearly 13,000 franchise locations operated by 4,200 franchisees and 2,300 company-owned locations.

Related: 6 Shocking Realizations About the Food at Your Favorite Chain Restaurants

Kate Taylor


Kate Taylor is a reporter at Business Insider. She was previously a reporter at Entrepreneur. Get in touch with tips and feedback on Twitter at @Kate_H_Taylor. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

Walmart Shoppers May Be Eligible for $500 After Settlement

Walmart shoppers who purchased weighted goods or bagged citrus in the U.S. or Puerto Rico from late 2018 through early 2024 might be eligible for a share of a $45 million settlement.

Business News

A Non-Profit Newspaper Published a Column Criticizing Facebook. Then Meta Blocked All of Its Posts.

Facebook's communications chief said that the posts were removed because of "a mistaken security issue."

Business News

A Look Inside the Company That Is Making $500 Million a Year Serving Italian Beef Sandwiches Made Famous by 'The Bear'

Portillo's CEO Michael Osanloo shares his secret to keeping hungry customers coming back again and again. (Hint: It requires a lot of napkins.)

Business News

Total Solar Eclipse 2024 Live Feed: Where, When and How to Watch the 2024 Eclipse

Here's what to know about the total eclipse 2024 and a live stream from NASA.

Business News

Elon Musk Reveals When Tesla Will Release Its First Robotaxi

Tesla's CEO says the fully autonomous Tesla taxi is arriving soon — in 122 days.


Use This Simple Strategy to Push Through Limitations in Your Life

On this episode of "The Jeff Fenster Show," guests Chris and Lori Harder share tactics that can help anyone overcome personal and career obstacles.