NEW YORK, April 26, 2010: CKE Restaurants, Inc.—the company that, through its subsidiaries, franchisees, and licensees, operates some of the most popular U.S. regional brands in quick-service and fast-casual dining, including the Carl’s Jr.®, Hardee’s®, Green Burrito®, and Red Burrito® restaurant brands—announced that it has entered into a definitive merger agreement to be acquired by an affiliate of Apollo Global Management, a leading global alternative asset manager. The transaction is valued at approximately $1.0 billion, including the refinancing of CKE’s outstanding indebtedness. Morgan Lewis advised Apollo on the acquisition.
The Morgan Lewis team included Business and Finance M&A partners Robert G. Robison, R. Alec Dawson, and Jonathan D. Morris in New York, assisted by associate Benjamin O. Lang; Finance partner Richard S. Petretti, assisted by Kristy M. Wagner; Employee Benefits partner Gary S. Rothstein in New York; Labor and Employment partner Carrie A. Gonell in Irvine; Environmental partner Judith A. Walkoff in New York; Intellectual Property partner James R. Sims in Washington, D.C.; and Real Estate associate Kathleen M. Martin in New York.
For additional details on the transaction, please see CKE’s press release at