“We would like to thank the CKE management team, led by Andy Puzder, as well as all of the Company’s employees, franchisees and licensees for their dedication and commitment during our fund’s ownership to execute a business strategy that has built substantial value at CKE. We are fortunate to have had the opportunity to partner with such an outstanding organization,” said Peter P. Copses, CKE’s Chairman and a Senior Partner at Apollo.
Goldman Sachs & Co. and Wells Fargo Securities, LLC are acting as financial advisors to CKE, and Morgan Lewis LLP is serving as legal counsel to the Company. King & Spalding LLP is serving as legal counsel to Roark Capital Group.
About CKE Inc.
CKE Inc. is a privately held company headquartered in Carpinteria, Calif. The Company, through its subsidiaries, has a total of 3,400 franchised or company-operated restaurants in 42 states and 29 foreign countries and U.S. territories worldwide, including 1,409 Carl's Jr. ® restaurants and 1,977 Hardee's ® restaurants. For more information about CKE Restaurants, please visit www.ckr.com or its brand sites at www.carlsjr.com and www.hardees.com.About Roark Capital Group Roark Capital Group is an Atlanta-based private equity firm that specializes in franchise, brand management, environmental services and marketing services companies with attractive growth prospects. When its investment in CKE closes, Roark’s franchise brand portfolio will increase to 27 companies that collectively have more than 15,000 locations and $15 billion in system-wide revenues across 50 states and 68 countries. Roark’s total locations include nearly 13,000 domestic locations and more than 2,300 international locations. They also include nearly 13,000 franchise locations (operated by 4,200 franchisees) and 2,300 company-owned locations. CKE Restaurants is Roark’s 14 th restaurant investment. Roark affiliates have also acquired other restaurant concepts including Miller’s Ale House, Arby’s, Auntie Anne’s, Cinnabon, Carvel Ice Cream, Corner Bakery, Il Fornaio, McAlister’s Deli, Moe’s Southwest Grill, Schlotzsky’s, and Wingstop. Roark’s portfolio also includes brands such as Atkins Nutritionals, Massage Envy, Batteries Plus, Primrose Schools, Money Mailer, FASTSIGNS, and Pet Valu. The firm has $3 billion of equity capital under management. For more information, visit www.roarkcapital.com. About Apollo Global Management Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, London, Frankfurt, Luxembourg, Singapore, Mumbai and Hong Kong. Apollo had assets under management of approximately $113 billion as of September 30, 2013, in private equity, credit and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit www.agm.com.