|Founded||1956Anaheim, California, USin|
|Ned Lyerly (CEO)|
|Revenue||US$1.280 billion (2012)|
|US$68.897 million (2012)|
|US$-6.261 million (2012)|
|Total assets||US$1.480 billion (2012)|
|Total equity||US$414.7 million (2012)|
|Owner||Roark Capital Group|
Number of employees
|20,200 (Jan 2012)|
|Footnotes / references|
CKE Restaurants Holdings (an acronym from Carl Karcher Enterprises) is an American fast food corporation and is the parent organization for the Carl's Jr., Hardee's, Green Burrito, and Red Burrito brands. CKE Restaurants is a subsidiary of the private equity firm, Roark Capital Group, and is headquartered in Franklin, Tennessee.
In 1996, CKE acquired Rally's and Taco Bueno. Rally's was later sold to Checkers in 1999. Checkers and Rally's then followed a similar regionalization concept as CKE has for its Carl's Jr. and Hardee's chains. Taco Bueno was sold in 2001 when private investment group Jacobson Partners purchased the chain for US$72.5 million dollars to help aid CKE Restaurants in a debt battle.
On February 26, 2010, THL Partners agreed to acquire CKE Restaurants. However, CKE Restaurants was, instead, acquired by Columbia Lake Acquisition Holdings, an affiliate of Apollo Management VII in July 2010, after CKE accepted a US$693.9 million takeover offer from Apollo Global Management, ending the earlier takeover agreement with THL Partners.
On March 4, 2016, CKE Restaurants Holdings announced that they would be consolidating their corporate offices in St. Louis, Missouri, and Carpinteria, California, and moving them to Franklin, Tennessee. CKE's Anaheim, California, office remained open until it was consolidated with the Franklin headquarters in 2018, with most of the Anaheim office's jobs outsourced to India and the Philippines.
In December 2016 Andrew Puzder was nominated by US President Donald Trump as US Secretary of Labor and resigned from CKE Restaurants as CEO in March 2017. Puzder ultimately withdrew from the nomination after his own admission of hiring an undocumented immigrant, failing to pay taxes and controversy from his companies' labor violations became public during the confirmation process.
On March 21, 2017, CKE announced the selection of Jason Marker as CEO for the company, succeeding Andrew Puzder. Marker, a New Zealand native, had previously served as President for Kentucky Fried Chicken US, a subsidiary of Yum! Brands, which is a direct competitor to CKE Restaurants. In June 2018, Marker was the subject of an age discrimination suit by a 58-year-old CKE marketing employee who was terminated in 2017 after 16 years of employment and had relocated with the company to Tennessee. The suit alleged Marker "began to publicly and privately display his shock and disgust with the fact that the CKE executive and management team consisted primarily of employees over the age of 50.", with Marker reportedly saying it was "depressing" and "something had to be done" about it. The suit also listed four top officials in the company over 50 who had been replaced by younger employees.
On April 12, 2019, Ned Lyerly was named CEO and appointed to CKE's board of directors. Lyerly had worked with CKE for over 30 years at the time of his appointment and was previously the president of CKE's international operations.
CKE conducts an annual Stars for Heroes in-store fundraising campaign by soliciting donations from customers at both Hardee's and Carl's Jr. restaurants to benefit US military veterans and their families. Since the program's launch in 2011, Stars for Heroes raised nearly US$5 million by 2015.
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- Diners Walk Through One Door and Visit Two Restaurants—Article in The New York Times on the strategy of multi-branding restaurants