Roark Capital to Acquire Majority Stake in CKE Restaurants from Apollo Global Management

CKE announced today that an affiliate of Roark Capital Group has entered into a definitive agreement to acquire a majority stake in the Company with senior management retaining a minority stake. CKE is currently majority-owned and controlled by investment funds affiliated with Apollo Global Management, LLC (together with its consolidated subsidiaries, “Apollo”) APO. Terms of the transaction were not disclosed. The transaction is expected to close in the fourth quarter of 2013, subject to regulatory approvals and other customary closing conditions. Headquartered in Carpinteria, California, CKE, through its subsidiaries, owns, operates and franchises some of the most popular brands in the quick-service restaurant industry, including the Carl's Jr.®, See full press release