-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EYfwlphWlD8BcmUThlNjB4mURRyljxwFWPMRrelWw7gkURNT3VTrGAzkywKk1ZsJ AWMM/iqt7q+aQovfVRw7XA== 0000892569-98-001030.txt : 19980413 0000892569-98-001030.hdr.sgml : 19980413 ACCESSION NUMBER: 0000892569-98-001030 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980401 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980410 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: CKE RESTAURANTS INC CENTRAL INDEX KEY: 0000919628 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] IRS NUMBER: 330602639 STATE OF INCORPORATION: DE FISCAL YEAR END: 0127 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-11313 FILM NUMBER: 98591214 BUSINESS ADDRESS: STREET 1: 1200 N HARBOR BLVD CITY: ANAHEIM STATE: CA ZIP: 92801 BUSINESS PHONE: 7147745796 8-K 1 FORM 8-K FOR PERIOD ENDED APRIL 1, 1998 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: April 1, 1998 CKE RESTAURANTS, INC. (Exact name of registrant as specified in its charter) Delaware 1-13192 33--0602639 -------- ------- ----------- (State or other jurisdiction (Commission (IRS Employer Identification of incorporation) File Number) Number) 1200 North Harbor Boulevard, Anaheim, California 92801 (Address of principal executive offices) (714) 774-5796 (Registrant's telephone number, including area code) 2 Item 2. Acquisition or Disposition of Assets On February 19, 1998, CKE Restaurants, Inc. ("CKE") signed a definitive Stock Purchase Agreement with Advantica Restaurant Group, Inc. and Spartan Holdings, Inc. regarding a proposed transaction pursuant to which CKE agreed to purchase from Spartan Holdings, Inc. all of the issued and outstanding shares of common stock of Flagstar Enterprises, Inc. ("FEI"), an Alabama corporation and its subsidiaries. On April 1, 1998, CKE acquired FEI from Advantica's subsidiary, Spartan Holdings, Inc. for a purchase price of approximately $380,799,699 million in cash and the assumption of approximately $46 million in certain liabilities. Such purchase price is subject to adjustment based on changes in the acquired corporation's working capital. FEI was the largest franchisee in the Hardee's system, previously operating 557 Hardee's Restaurants, located primarily in the Southeastern United States. Item 7. Financial Statements and Exhibits (a) Financial Statements of Businesses Acquired The financial statements required by this Article are not included in this report and will be filed within 75 days of the closing date by Amendment. (b) Pro forma Financial Information The pro forma financial information required by this Article is not included in this report and will be filed within 75 days of the closing date by Amendment. (c) Exhibits 99.A Press Release - April 1, 1998 - CKE Restaurants, Inc. and Advantica Restaurant Group, Inc. Announce Completion of Purchase of 557 Hardee's Restaurants from Advantica. 3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CKE RESTAURANTS, INC. Dated: April 10, 1998 /s/ CARL A. STRUNK ------------------------------------ Carl A. Strunk Executive Vice President Chief Financial Officer 4 EXHIBIT INDEX 99.A Press Release - April 1, 1998 - CKE Restaurants, Inc. and Advantica Restaurant Group, Inc. Announce Completion of Purchase of 557 Hardee's Restaurants from Advantica. EX-99.A 2 PRESS RELEASE 1 EXHIBIT 99.A NEWS RELEASE CONTACTS: Carl Strunk Executive Vice President, Chief Financial Officer 805.563.1566 Loren Pannier Senior Vice President, Investor Relations 714.778.7109 CKE RESTAURANTS, INC. COMPLETES PURCHASE OF 557 HARDEE'S RESTAURANTS FROM ADVANTICA RESTAURANT GROUP, INC. ANAHEIM, Calif. -- April 1, 1998 -- CKE Restaurants, Inc. (NYSE:CKR) announced today that it has completed its acquisition of 557 formerly franchised Hardee's restaurants from Advantica Restaurant Group, Inc. for the purchase price of $380.8 million plus the assumption of $45.6 million in capital lease obligations. The acquisition was financed in part by $192.3 million in proceeds that CKE raised from a private placement of convertible subordinated notes, which was completed on March 13, 1998, and in part by the Company's increased credit facility led by Banque Paribas. This credit facility was raised from $300 million to $500 million, on April 1, 1998. The $500 million, which matures in April 2003, includes a $250 million revolving credit facility and a $250 million term loan. "With this acquisition, CKE's base of Company-operated Hardee's restaurants increased to 1,420 restaurants, nearly 47 percent of the Hardee's system. With a larger percentage of Company-operated Hardee's restaurants, we believe that we are better positioned to promote a consistent brand image and increase overall customer satisfaction. This purchase underscores our commitment to protecting the Hardee's brand and strengthening the system," stated William P. Foley II, CKE's chairman and chief executive officer. "In addition, our enhanced credit facility provides CKE with capital to help reshape the Hardee's brand through remodeling programs and various test projects, as well as the flexibility to purchase additional franchised Hardee's units if and when the opportunities arise." (more) 2 CKE - Page 2 In addition to the acquired restaurants, which are located in the Florida, Alabama, Mississippi, Tennessee, South Carolina, North Carolina, Georgia, Louisiana, Arkansas and Virginia, CKE will retain approximately 20,000 restaurant employees and 136 regional support personnel. CKE Restaurants, Inc., through its subsidiaries and franchisees, operates 714 Carl's Jr. quick-service restaurants, including 120 Carl's Jr./Green Burrito dual-brand locations, primarily located in California, Nevada, Oregon, Arizona, Mexico and the Pacific Rim; 3,039 Hardee's quick-service restaurants in 39 states and 10 foreign countries including 85 Carl's Jr./Hardee's dual-brand locations; 109 Taco Bueno quick-service restaurants in Texas and Oklahoma; 26 Rally's quick-service restaurants in California and Arizona; 82 JB's Restaurants and six Galaxy Diners. # # # -----END PRIVACY-ENHANCED MESSAGE-----