Baja Fresh to buy La Salsa Fresh Mexican Grill
May 30, 2007
by FoodBusinessNews.net Staff
CARPINTERIA, CALIF. — Baja Fresh Mexican Grill has agreed to buy the La Salsa Fresh Mexican Grill restaurants of CKE Restaurants Inc.
"Our focus is on growing Carl’s Jr. and Hardee’s, including dual branding them with our Mexican brands, Green Burrito and Red Burrito," said Andrew F. Puzder, president and chief executive officer of CKE. "While we believe in La Salsa’s potential, we also believe our best opportunity for improving earnings and cash flow is to devote our resources to the future of Carl’s Jr. and Hardee’s."
With the agreement, Santa Barbara Restaurant Group, Inc. a subsidiary of CKE, is expected to sell 100% equity interest in La Salsa, Inc and La Salsa of Nevada, Inc. The acquisition is expected to close by the end of June.