Roark Capital Nabs Majority Stake In Carl's Jr. Owner

Law360, Washington (November 20, 2013, 2:11 PM EST) -- Private equity firm Roark Capital Group has agreed to purchase a majority stake in the parent company of burger chains Hardee's and Carl's Jr. from a unit of Apollo Global Management LLC for an undisclosed amount, the companies announced Tuesday.

Under the terms of the deal, an affiliate of Atlanta-based Roark will take over the majority stake in CKE Restaurants Inc. currently owned and controlled by Apollo, with CKE's senior management retaining a minority stake in the company. The companies did not release financial details of...
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