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Business

Carl’s Jr. Parent Company Files for $100 Million IPO

CKE Inc. plans to use the offering to repay debt and for general corporate expenses

CKE Inc., the Carpinteria-based parent company of fast-food chains Carl’s Jr. and Hardee’s is planning to go public again with an estimated $100 million in initial public stock offering.

CKE announced Thursday in a registration statement with the Securities and Exchange Commission that it has not determined the number of shares to be sold or their expected price, but the company will use the offering to repay debt and for general corporate expenses.

The company first went public in 1981, and Apollo Global Management took it private less than two years ago with a $1 billion buyout. It will go by “CK” on the New York Stock Exchange if the offering succeeds.

CKE has about 190 employees in its Carpinteria headquarters and more than 3,000 restaurants around the world, according to its website.

The headquarters remain on the South Coast despite CKE CEO Andy Pudzner’s criticism of the state’s heavy regulation; the lease in Carpinteria expires in 2015.

Before the recession, the company reported $1.5 billion in annual sales. CKE had a $19.3 million net loss in its last fiscal year while revenue slipped 3.9 percent to $1.3 billion.

Noozhawk staff writer Alex Kacik can be reached at .(JavaScript must be enabled to view this email address). Follow Noozhawk on Twitter: @NoozhawkBiz, @noozhawk and @NoozhawkNews. Connect with Noozhawk on Facebook.

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