CKE Restaurants Inc. said Monday it sold 25 Hardee’s restaurants as part of a refranchising program it expects to include more than 200 locations across the Midwest and Southeast.As part of the program, the company said it sold 18 eastern Atlanta restaurants and seven units in southern Alabama and Georgia to two separate groups. Financial terms were not disclosed.
The 18 eastern Atlanta restaurants were sold to franchise entity Biscuits and Burgers LLC. As part of the deal, the franchisee committed to build 25 new Hardee’s locations in eastern Atlanta over the next seven years.
CKE President and Chief Executive Andrew F. Puzder said in a statement that refranchising the markets will allow his company to focus in its core markets. He said the company is in various stages of negotiations with potential and existing franchisees for the sale of the majority of the restaurant locations.
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