Carl’s Jr./Hardee’s Owner Files for IPO

Filed under Business

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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