CKE to refranchise more than 200 Hardee's restaurants
April 10, 2007
by FoodBusinessNews.net Staff
CARPINTERIA, CALIF. — More than 200 Hardee’s restaurants in the Midwest and Southeast will be included in a refranchising program.
As a part of the program, CKE Restaurants Inc., the parent company of Hardee’s, recently sold 18 units in Atlanta to Biscuits and Burgers L.L.C., a franchise entity. In return, Biscuits and Burgers will build 25 new Hardee’s restaurants in Atlanta during the next seven years.
CKE also has recently sold seven units in southern Alabama and Georgia to Ponder Enterprises Inc., another franchise entity.
"Refranchising these markets will accelerate their development and will allow the company to focus its own development efforts in its core markets," said Andrew F. Puzder, CKE president and chief executive officer. "It will also help the company allocate its financial and operational resources more efficiently and thereby facilitate our growth plans for company-operated restaurants. We are in various stages of negotiations with potential and existing franchisees for the sale of the great majority of these restaurant locations. Most of the proposed transactions also include a development agreement."