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Article: Advertising Age Reports Carl's Jr. in Talks to Acquire Hardee's
- Article from:
- PR Newswire
- Article date:
- April 20, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, April 20 /PRNewswire/ -- CKE Restaurants (NYSE: CKR), parent of Carl's Jr. hamburger chain, is preparing to acquire Hardee's from Montreal- based Imasco Ltd., Advertising Age reports in its April 21 issue.
CKE plans to expand Carl's Jr.'s territory by converting Hardee's units west of the Mississippi -- and possibly in the rest of the country, according to the report. It's unclear whether the Hardee's name will be retained in the Southeast, the chain's strongest region.
Industry observers estimate the acquisition price, including trademark rights and some 700 company-owned restaurants, at $500 million to $600 million.
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