A private equity firm has made a more than $1.65 billion dollar deal to buy a Santa Barbara County based fast food giant.
Roark Capital is purchasing CKE Incorporated, which is the parent of the Carl’s Junior, and Hardee’s fast food chains.
The deal with Apollo Global Management values the company at between $1.65, and $1.75 million dollars.
The company has 3400 restaurants in 42 states, and 29 countries.
Roark has indicated it will keep the current management team for the Carpinteria based company in place.