CKE Inc., the parent of the Carl’s Jr. and Hardee’s burger chains, is the latest restaurant company to jump back into the public-ownership pool, filing for an initial public offering of stock that could raise an estimated $100 million.
This reverses the public-to-private route taken in July 2010 when CKE was acquired and taken private by equity company Apollo Management for a total of nearly $1 billion. It follows the announcement earlier this year that Burger King will again be listed on the NYSE as a result of its $1.4 billion agreement with UK investment vehicle Justice Holdings LTD.
The company reported a net loss of $6.26 million for the fiscal year ended Jan 30., 2012. Same-store sales growth for company-owned Carl’s Jr. restaurants was 1.9% in 2011, 5.2% for Hardee’s. Carl’s Jr. stores averaged annual sales of $1,411,000; Hardee’s averaged $1,117,000.
Next week, the two chains–known for their indulgent offerings–will launch a new burger. Carl’s Jr. is testing an ice-cream-burger dessert, according to the Orange County Register.
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The May Burger of the Month at R.J. Grunts in Chicago is the Chihuahua Burger. That's a ground chuck and sirloin patty topped with Chihuahua cheese, jalapeño cabbage slaw, pickled red onion, cilantro, and Cholula garlic aïoli. To see the full list of May's best Burgers of the Month around the country, click
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