Author Topic: CKE to be sold to Apollo  (Read 1039 times)

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Offline norma427

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CKE to be sold to Apollo
« on: April 28, 2010, 06:50:44 PM »
CARPINTERIA, Calif.  (April  26, 2010) CKE Restaurants Inc., parent of Hardee's and Carl's Jr., said it has accepted a buyout deal valued at $1 billion from an affiliate of Apollo Global Management.

http://www.nrn.com/breakingNews.aspx?id=382446&menu_id=1368

Norma
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Online Pete-zza

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Re: CKE to be sold to Apollo
« Reply #1 on: April 28, 2010, 06:57:05 PM »
Norma,

I saw that transaction reported out a few days ago but I am missing the pizza connection. Were you thinking of CPKI (California Pizza Kitchen) by any chance?

Peter

Offline norma427

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Re: CKE to be sold to Apollo
« Reply #2 on: April 28, 2010, 07:30:58 PM »
Peter,

This is where I saw it.  Isn't this the same place?  http://pmq.com/news/news.php?id=14031

Norma

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Online Pete-zza

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Re: CKE to be sold to Apollo
« Reply #3 on: April 28, 2010, 07:39:47 PM »
Norma,

No, they are not the same. PMQ got it wrong. I thought that you might have been thinking of California Pizza Kitchen because it recently hired an investment banker to "consider a wide range of financial and strategic alternatives to enhance shareholder value". Those alternatives could include a sale of the company. The CPKI press release can be seen at http://www.marketwatch.com/story/california-pizza-kitchen-inc-to-review-financial-and-strategic-alternatives-2010-04-12?reflink=MW_news_stmp.

Peter


Offline norma427

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Re: CKE to be sold to Apollo
« Reply #4 on: April 28, 2010, 07:52:11 PM »
Norma,

No, they are not the same. PMQ got it wrong. I thought that you might have been thinking of California Pizza Kitchen because it recently hired an investment banker to "consider a wide range of financial and strategic alternatives to enhance shareholder value". Those alternatives could include a sale of the company. The CPKI press release can be seen at http://www.marketwatch.com/story/california-pizza-kitchen-inc-to-review-financial-and-strategic-alternatives-2010-04-12?reflink=MW_news_stmp.

Peter



Peter,

I had thought after I read that article at PMQ it was California Pizza Kitchen.  Goes to show even PMQ can get things wrong.   :-D

Thanks,

Norma
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Online Pete-zza

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Re: CKE to be sold to Apollo
« Reply #5 on: April 28, 2010, 10:35:50 PM »
Norma,

Not that it matters much at this point, but the symbol CKE came from Carl Karcher Enterprises. People out west will recognize the Carl's and Carl's Jr. restaurants that specialize in hamburgers and the like, but not pizza.

Peter

Offline norma427

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Re: CKE to be sold to Apollo
« Reply #6 on: April 28, 2010, 10:44:59 PM »
Norma,

Not that it matters much at this point, but the symbol CKE came from Carl Karcher Enterprises. People out west will recognize the Carl's and Carl's Jr. restaurants that specialize in hamburgers and the like, but not pizza.

Peter

Peter,

Thank you for that information.  I am always interested finding new information.

Norma

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Offline norma427

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Re: CKE to be sold to Apollo
« Reply #7 on: April 29, 2010, 05:37:57 PM »

This is the corrected version I received this morning.

For those who received yesterday’s Pizza News Weekly, you may have seen an article about CPK being sold. This was an error on our part due to both CKE and CPK being in the news recently.

Please find the corrected stories below.

http://www.reuters.com/article/idUSN0920923120100409  this isn’t exactly the same one, but I couldn’t get the link to work from the other one.

http://www.qsrmagazine.com/articles/news/story.phtml?id=10371

Norma
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