The firm went public in 1993, then merged with Santa Barbara Restaurant Group, a wholly owned subsidiary of Carpinteria, CA-based CKE, in 1998. The buyers were led by Peter Bedzyk, president of Timber Lodge, which has its operational headquarters here. Bedzyk was joined by eight other investors in a private enterprise called T-Lodge Acquisition Corp.
The deal with Santa Barbara Restaurant Group, which owned 100% equity interest in the restaurant chain, includes about $7 million in cash and about $1.8 million in secured notes. Through its subsidiaries, CKE Restaurants has a total of 3,222 franchised or company-owned restaurants in 44 states and in 14 countries, including 1,016 Carl's Jr. restaurants, 2,081 Hardee's restaurants and 106 La Salsa Fresh Mexican Grill restaurants.
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