THL Buys CKE Restaurants for $928m

THL Partners has agreed to acquire publicly traded CKE Restaurants, which operates the Carl's Jr. and Hardee's chains, for $928 million. The deal includes the assumption of $309 million in debt. UBS Investment Bank is acting as financial advisor to CKE. BofA Merrill Lynch and Barclays Capital are acting as financial advisors to THL. Affiliates of BofA Merrill Lynch and Barclays Capital have provided a financing commitment to THL to support the transaction.

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