Meat Industry INSIGHTS Newsletter

970703 Hardee's Sale Completed by CKE

July 15, 1997 -- CKE Restaurants said it completed its acquisition of Hardee's Food Systems for $327 million, giving it nearly 4000 hamburger restaurants nationwide.

The purchase from Montreal-based Imasco Ltd. was announced in April.

Hardee's operates 3119 restaurants in 40 states and 10 countries. CKE operates 668 Carl's Jr. and 26 Rally's fast-food restaurants, primarily in California and other Western states.

CKE, based in Anaheim, Calif., plans to sell 114 of the Hardee's restaurants. The company laid off 174 Hardee's corporate workers, including 95 of 350 employees at its Rocky Mount, NC, headquarters.

Other plans include testing restaurants that incorporate both brands under one roof, featuring Hardee's breakfasts and Carl's Jr. burgers and chicken sandwiches.

The dual format will be tested in three markets this fall.

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